EBIT up 161%

There haven’t been many posts over the last ten months as I’ve taken a new job.

I have taken a role as Divisional Manager of Garden Sheds and Storage Solutions at Oldfields Holdings Limited (ASX:OLH). I report to the Managing Director (CEO) and this position is equivalent to Executive Vice President in American companies.

In my first complete half-year under my management the division’s sales are up 27.5% and the division’s EBIT is up 161.3%. This is not investment advice or an invitation to invest go do your own research if you are interested. These numbers should change in the full-year results as my division will be paying for identifiable head office direct expenses that we currently do not get charged for, e.g. accounting fees for our use of corporate accountants — every business pays accounting fees and it’s fair that my division should do the same.

There are however fees that are due to being part of a public company that is a conglomerate, e.g. part of the board of directors expense or the CEO expense. If my division were a stand alone business those expenses would not exist. To cover those expenses a division should have an operating P&L statement with a head office charge or contribution below the EBIT line. If the board goes crazy and votes huge director fee rises that’s their business, I have no operational control over it.

So I’m crazy busy and enjoying it.

Also I’m using LinkedIn a lot more. Here is a button to check my profile (there’s another in the sidebar)

Here is a button to invite me to join your network on LinkedIn (and another in the sidebar)

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