Earnings vacuum for Godfreys
Shares in Godfreys (ASX: GFY) have sunk following the company’s AGM in Melbourne on Wednesday, after the company said sales had weakened and did not expect to deliver profit growth this financial year. The news sent Godfreys shares to their lowest level since listing on the ASX in December 2014. CEO Tom Krulis blamed the industry conditions, citing volatility in the retail sector. Godfreys shares closed down 4% for the week. We do not own Godfreys in the investment portfolio.
Wilson Asset Management has a track record of making a difference for shareholders and the community for more than 20 years. As the investment manager for eight leading LICs – WAM Capital (ASX: WAM), WAM Leaders (ASX: WLE), WAM Global (ASX: WGB),...