This is all giving me much more confidence in my own judgement, but unfortunately market does not seem to agree. So, when do you dip in for more haha?
The fact the new CEO is dressing up one-offs as affecting underlying EBITDA is a real surprise to me, and suggests he is trying to make the results look worse than they are - perhaps for personal reasons to ensure he meets his KPIs and gets all his bonuses.
I'm just thinking to MYX, VOC and CAT (yes I have a habit of picking duds - but i'm up on all three!) and their interpretation of 'underlying'...
GXL Price at posting:
$4.21 Sentiment: Hold Disclosure: Held