A Turnaround Story
The turnaround story here is not too uncommon. Energy Action once had a nice little business which was capital light and high margin. Under the old management, the business committed major unforced errors; ‘di-worsification’, neglecting their existing technology, and taking on too much debt. Theirs was a misguided strategy, as we publicly and correctly predicted it would be.
Cue the new management, who do some things right, such as keeping costs under control, marketing their existing business and not acquiring low margin projects businesses….
To read the rest of my post: Go to https://ethicalequities.com.au/2018/08/17/energy-action-asx-eax-improving-fy-2018-annual-results/