Aussie Broadband was trading at $5.95 in late April, but it now languishes around $2.35. Still, CEO Phillip Britt is confident in the company’s fundamentals.
Unperturbed by a sharp downward spiral in the share price – Aussie was trading at $5.95 in late April, but now languishes around $2.35 – the co-founder and chief executive has doubled down on the 19-year-old business.
“We don’t see the share price as a proper reflection of how well we are doing as a business,” he tells. “We are here for the long term ... I’ve stopped worrying about what the markets are doing.” Mr Britt concedes subscriber growth has slowed, yet says the company still competes strongly and has a lower churn rate than rivals. He points to theAnalyst scepticism
Asked whether he had detected any scepticism in the market following the recent investor sell-off, Mr Britt said it was a “funny thing”.
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