Servcorp

Servcorp chairman Bruce Corlett certainly likes to build suspense. In Wednesday’s AGM address he told shareholders that trading conditions in the first quarter of the 2013 financial year ‘have been very challenging, particularly in Australia, Singapore, Japan and the USA’ and that ‘trading results have been substantially lower than originally expected’, before confirming net profit guidance of about $27m, made up of $9m in the first half and $18m in the second. If achieved, that would mean a 47% increase over the 2011 result. Corlett said that the company had ‘now introduced measures to reduce vacancy’ and it’s presumably...

Servcorp chairman Bruce Corlett certainly likes to build suspense. In Wednesday’s AGM address he told shareholders that trading conditions in the first quarter of the 2013 financial year ‘have been very challenging, particularly in Australia, Singapore, Japan and the USA’ and that ‘trading results have been substantially lower than originally expected’, before confirming net profit guidance of about $27m, made up of $9m in the first half and $18m in the second. If achieved, that would mean a 47% increase over the 2011 result.

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