INTERNATIONAL IS LEKKER AT PHUMELELA

Financials are in and local racing continues to be the dead dog in the Phumelela stable if you will pardon the mixed metaphor.

And before the usual apologists and lackeys brand me as 'negative' ( I'm just passing on the facts ) they can rather fall on their knees in thanks to the international division which is effectively funding the mules racing locally. Lol.

International division is UP by 100%.

Local activities are DOWN by 49%.

Dividend maintained.

Clearly you should be buying the share and not the yearlings.

More details available on SENS

thanks Garrick. Here is the full report. Juicy innit?
www.profile.co.za/sens.asp?id=190658

Excuse my ignorance but I cant see where local racing has dropped 49% please help me out here

Conversely PBT
from local operations declined by 49% primarily due to a marginal growth in
totalisator revenues outweighed by increased operating costs as well as a
decline in fixed odds betting margins. Excluding the contribution from fixed
odds betting, totalisator betting on soccer and rugby, limited payout machines
(LPM`s) and bingo revenues the Group`s local operations from horseracing are
loss making.

i'm no accountant so perhaps others will help more than i can Titch

49% FFS................and some continue to be positive about local horseracing.
The final step ,when it completely falls in a hole,is that those who saw it it coming will be blamed for causing it ...........instead of those who ignored the obvious!
Within days ,this thread will be history,and all will be well!
The asset stripping will continue until the cupboard is bare and finally "P" will just become a wealthy broker of overseas gambling.
What will be interesting,will be to dig out the old threads and individual forecasts,from the last 5 years,in about 5 years time.....................it will make fascinating reading by then,I suspect.
The greatest danger for local racing is that "P" convince the state that the situation is caused by a one of inevitability,rather than piss-poor management.

49%, if that isn't a RED FLAG then I don't know....:S

the stat that should most concerning is that gambling on horse racing only makes up 5% of the total pie...also the dividend yield of 6 is not bad...in the last year this share was hardly traded...the company is doing a great job for their shareholders!!!

It's the Open Bet that caused this - not the poor marketing and service

"And before the usual apologists and lackeys brand me as 'negative' "

Garrick a type of fish - I wonder if Garrick is a fisherman. He baited and caught the fish with little effort at all! (LOL!!!)-D

Greg and Rob surely the strategy should be to correct this drop of 49%. The problem IMO is sitting in a board room and analysing numbers instead of attending to grass root issues will in the medium to long term reflect a negative picture. They are paying the price for years of neglect. The Open Bet and Global financial meltdown cannot forever be the excuse.

The great companies will never neglect the core of what made them great. The good companies will, their identities will be lost and they will always end up a shadow of it's former self. Perhaps it has something to do with this theory www.businesslive.co.za/businessexchange/...-of-corporate-ladder which seems to be afflicting world business.

WTF are people doing in the industry then, for those of you that cant stop winging, sell your horses stop punting and be gone...this continued bitching by those who do sweet FA but moan is getting ridiculous, if you are not happy with the way things are then leave ...simple.....or is the platform to spew your continued negativity just too much for you to give up???
Fuck there are some sad people here!!!!

as Churchill said "Frankly my dear I don't give a damn"-

JAMES BLOND Wrote:

---

> as Churchill said "Frankly my dear I don't give a
> damn"-


That was actually Rhett Butler (Clarke Gable) in Gone with the Wind....something a few here should consider doing...