Oh dear:
What is its strategy?
I thought it was about muscling into new markets, especially Melbourne? What’s all of this guff about adding value to sundry services?
Perhaps it’s because the 15 new offices in NSW and VIC led to shrinking market share in both:
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If you combined this with the pounding that sales profits took, it’s pretty clear that this is a business (and market) under intense margin pressure from grotesque oversupply:
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If MEA is going to take market share, it is going to do so with collapsing margins. With wider online disruption growing as well, good luck with that.
Down -5% so far: