What a truly pathetic result in an era where tech companies are growing exponentially. The revenue growth of 7.1% is barely above CPI and every contract has CPI on contracts. The loss of $16.1m is astounding! They have net assets of $141m with intangibles of $201m so I'd question that number, especially Government, justice and procurement had an impairment of $19.9m, which can't be enough. If you look at revenue lines education and work pathways grew 7.5%, Workforce solutions by 12.5% and Government, Justice and Procurement by 2.7% (Less than CPI).
They really need to take a long hard look at themselves, but I think they lack real leadership. I know through my contacts that they have a poor reputation with customers, but these numbers confirm this is affecting their numbers. Investors in RDY can have no confidence in this company with this lack of leadership which is reflected in the numbers.
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