Wrapping Up Vita Group

Today’s blog will most likely be our final with respect to Vita Group Limited (ASX: VTG). In a portfolio of 20-30 companies, we will make mistakes – and VTG is, in absolute terms, one of our larger ones. Importantly, despite this loss and others The Montgomery Fund has outperformed over the long term. We also maintain a continued focus on where and why we erred.

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VitaGroup Update

We understand many investors have been watching the recent share price action of Vita Group closely.  Many have expressed dismay at the slump following ‘news’ that Telstra was renegotiating its terms with its licencees – something that Telstra does every quarter and ‘more than 50 times’ with VTG.

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Vita Group Limited

Vita Group Limited (ASX: VTG) is an established operator of retail telecommunications product resellers. It holds a Master Agreement with Telstra Corporation (ASX: TLS) to run 100 Telstra retail outlets. This is a key driver of its performance over the last half a decade from which it evolved as an operator earning circa $7m in underlying earnings to $18m in FY15.

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