Brierty cuts profit again, MD resigns

Contracting group Brierty Ltd today announced its second profit revision in six weeks, slashing its forecast to $3.6 million after tax, and the resignation of founder Alan Brierty as managing director to focus on the operational side of the business.


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I thought only big business gets it wrong. Somewhere and some time within your organistion you were all dreaming. You have cost me considerable $ and also a lot of credibility as I had numerous friends who also invested in this company. You sold us a dream about solid business sense, there is obviously a lack of integrity, accountability, and greed. Starting from the top down. To say I am dissapointed would be an huge understatement. Dalton Gooding how can you reccomend a company that gets it so wrong? You should all go and work with Norm Carey. Extremely poor performance, get it right or get out of business, sounds like you are doing the latter. No doubt you have lined your pockets so the impact wont effect you, only the small investors get burnt again. Do us a favour next time maybe you should name the company Dullity as it is far from Brierty in my books.

This companies senior management are incapable of managing and controlling a company listed on the ASX. There is a clear demonstration that there is a lack of controls and processes to manage the company and its associated risks. Events described here do not occur overnight. A rock needs to be thrown at Ernst and Young for the crap job they have done in assessing the \"Review of the Directors\' forecast\" in the Prospectus. ... sounds like another chat over lunch and a few beers to agree the overzealous forecasts... perhaps the brokers were there to \"spin\" the forecasts so they were just right. ... another rock to Bell Potter for promoting and enabling a company to list on the ASX at the expense of investors, when the company did not have the capabilities, processes and management to run the company properly... actually from your bosses view good job on selling another lemon... aka Zingmobile, RAMS, Empired, Datasquirt, Hedley etc. The comment by Mr Brierty that: \"We took Brierty to the market last year as a well-run company with a proud history and great prospects. " Is only conflicted by the comment by the Board that: \"It has become evident that notwithstanding the strength of the revenue growth achieved in recent years - including in 2008 - internal systems growth has not kept pace.\" Come on Mr Brierty. The Board are saying the company was poorly run... perhaps Bell\'s and EY you need to look at your capabilities as well. Mr Gooding how about a serve for you. Great reputation and one of the reasons I invested in the company. Maybe you need to get back to basics and do a few jobs well and stop being vegemite.

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