FUN 3.85% 5.0¢ funtastic limited

Gerry Havey; ’Que Sera Sera’

  1. 10 Posts.
    In my post about the house of not so much Fun, back in November I was not predicting bad Christmas results. I was simply following the retail industry cycle and understanding that Christmas stock is by now with retailers, hence it is over and the results are essentially in the bank.

    So… 2015 fiscal year results are not promising! Stay tuned for the customary ‘warning’. Logic tells us that the industry is focused on the last quarter previous to Christmas to generate much of its activity. So far as I know there is no Christmas for another 10 months.

    Here are some of my concerns I would like to share;

    Either a very interested party is keen to take it off the market.
    With disinterested key shareholder (refer recent interview with Gerry Harvey essentially saying; Funtastic….’Que Sera Sera’), It is than an opportune time to delist. Not good news!

    A turnaround is imminent……? Highly unlikely, as the actions to turn the organization around and change it’s failing DNA, should have taken place at least 2 years in advance.

    The only redeeming sign is their focus on global markets. However, given their product forecast and presentation at the AGM, I sense lack of direction, which puts a massive question mark in front of that option as well.

    I suggest the mix around the boardroom table does not work. Any sign of some tiding up? You cannot blindfold your key shareholders for much longer, or can you……..?

    Light at the end of the tunnel? Not for a long while. For shareholders this is a real nerve tester. Let’s wish them all the best.
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