Ellies reports R35.2 million comprehensive half-year loss, citing once-off retrenchment costs

[Jan]

Ellies reports massive loss

Ellies has reported a total comprehensive loss of R35.2 million for its half-year trading period ending 31 October 2022.

This represents a 74.3% higher loss than the same period last year.

 

[RedViking]

You would think with loadshedding they are making a killing.

 

[6spdmanual]

What a dump.

 

[Corelli]

I only bought Ellies plugs and adapters but now to close manufacturing? Better quality cabling and supplying maybe Hisense with cables etc. Let alone supplying businesses and homes with anti-loadshedding plugs and adapters, or making other energy efficient items.

I would scrap the satellite business completely.

 

[Corelli]

“The South African prime rate has moved from 7,75% in March of 2022 to the rate of 9,75% in September 2022, an increase of 30%.

Although it may have increased by 30% you dont use percentage increases when increasing percentages. Best to say it grew by 1/3rd.

Or else it may sound like it went from 7.75 to 37.75 percent.

Who wrote this?

 

[Ipwn 4]

How does their idiot CEO still have a job?

For a company selling, amongst other things, inverters and batteries to be going through a restructuring in 2022 is just absurd.

Focusing to build provisions for retrenchments rather than bringing is stock is the biggest L of the year.

 

[JacquesSteffen]

Once a household brand, now only stupid excuses? People are still buying similar products from different brands and sometimes at higher prices. The only solution is PROPER MARKETING!

 

[Paul Williams]

Ellies reports massive loss

Ellies has reported a total comprehensive loss of R35.2 million for its half-year trading period ending 31 October 2022.

This represents a 74.3% higher loss than the same period last year.

They performing a second section 189 early next year that board of directors are deceitful I have info that MyBroadband would love but they don’t seem to care to respond to emails

 

[Paul Williams]

Well firstly the used vaccine mandates to remove staff without severance knowing well in advance they would be performing retrenchments talk about lack of integrity. In fact upon full vaccination status Standard Bank miraculously increased thier credit facility in view of SOLAR WHICH HAS BEEN THERE SO CALKED SAVING GRACE AND STRATEGY OUT FORWARD TO STANDARD BANK FOR OVER 5 YEARS ALREADY

When the current CEO Shaun came in he went about removing the entrepreneurial spirit siting legacy issues

He went about his business to set up a full blown corporate structure TOP DOWN STRUCTURE

however when the chips were down the bottom was expected to bring forth ideas to save the business

No one at board level has been accountable for lack of performance for years HE IS EFFECTIVELY A FAILED CEO

He is a fixer and there’s only so much cost saving and penny pinching one can do

He adds nothing beyond that

NO INNOVATION NO CREATIVITY AND HE HAS NEVER BEEN HOLD TO ANY STANDARD

hence the people at the bottom have suffered years of no bonus no sufficient increases just endless disappointment working twice as hard each year only to end up with nothing to show for it

And those people are they ones who lost thier jobs

Thier current strategy is so far removed from thier absolute core which is retail

They think that they move away and shift totally in view of solar

The board is absolutely clueless

Go look on the website it’s a bunch of bankers who know nothing about anything the Ellie himself built

Ellie was a lot of things but this lot have destroyed this business

And a max exodus of everything noble person has either resigned or taken thier packages or Been dismissed for apposing thier views

It’s a total **** show and Mr CEO

Still remains leading a sinking ship

 

[Pegasus]

Well firstly the used vaccine mandates to remove staff without severance knowing well in advance they would be performing retrenchments talk about lack of integrity. In fact upon full vaccination status Standard Bank miraculously increased thier credit facility in view of SOLAR WHICH HAS BEEN THERE SO CALKED SAVING GRACE AND STRATEGY OUT FORWARD TO STANDARD BANK FOR OVER 5 YEARS ALREADY

When the current CEO Shaun came in he went about removing the entrepreneurial spirit siting legacy issues

He went about his business to set up a full blown corporate structure TOP DOWN STRUCTURE

however when the chips were down the bottom was expected to bring forth ideas to save the business

No one at board level has been accountable for lack of performance for years HE IS EFFECTIVELY A FAILED CEO

He is a fixer and there’s only so much cost saving and penny pinching one can do

He adds nothing beyond that

NO INNOVATION NO CREATIVITY AND HE HAS NEVER BEEN HOLD TO ANY STANDARD

hence the people at the bottom have suffered years of no bonus no sufficient increases just endless disappointment working twice as hard each year only to end up with nothing to show for it

And those people are they ones who lost thier jobs

Thier current strategy is so far removed from thier absolute core which is retail

They think that they move away and shift totally in view of solar

The board is absolutely clueless

Go look on the website it’s a bunch of bankers who know nothing about anything the Ellie himself built

Ellie was a lot of things but this lot have destroyed this business

And a max exodus of everything noble person has either resigned or taken thier packages or Been dismissed for apposing thier views

It’s a total **** show and Mr CEO

Still remains leading a sinking ship

How do you feel about all this?

 

[Paul Williams]

It’s really Sad this is a business that has been born and bread in South Africa
It’s a house hold name and a lot of good people have been effected by this

The Board is absolutely rotten to the core and it’s on full display

If the CEO had a bone of integrity left in his body he would step aside

He failed previously at Ellerines and bought with him people from a failed business and even placed those individuals above others more qualified

And as result good people have left

Back stabbing delux in that place

No unity

everyone out for themselves

It’s pit of vipers

 

[6spdmanual]

It’s really Sad this is a business that has been born and bread in South Africa
It’s a house hold name and a lot of good people have been effected by this

The Board is absolutely rotten to the core and it’s on full display

If the CEO had a bone of integrity left in his body he would step aside

He failed previously at Ellerines and bought with him people from a failed business and even placed those individuals above others more qualified

And as result good people have left

Back stabbing delux in that place

No unity

everyone out for themselves

It’s pit of vipers

Expose them bro. Keep the hits coming.

 

[Paul Williams]

Well if MyBroadband would pick up the story where they left off I would

I’ve tried getting in touch but to no avail

 

[6spdmanual]

@Jan we need this published