McGrathmaggedon posts another $2.5m loss

Monday 18 February 2019

McGrath Limited has released its FH19 results, which delivered an 18% crash in revenue and a EBITDA loss of $2.5 million:

McGrath operates primarily out of Sydney, where both prices and volumes are crashing:

Accordingly, its share price has collapsed around 88% since it floated:

Surely it is now one of the great IPO failures of Australian history. Perhaps not the Dot Bomb as yet but it’s not over either…

unconventionaleconomist@hotmail.com

About the author

Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness. Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.