Ann: Profit Guidance, page-15

It doesn't look good, but its not worth a 15c drop in the S.P. This was a well documented risk of the business finance division and a reason why it was so urged to be sold. A circa 8m provision on a 350m loan book (which they own 20% equity) does not correspond to a 25% loss in value for the company. I wouldn't be surprised if this gets bid up today. An issue I can see is that maybe management have tried to sell the equipment finance business, but haven't been able... maybe there are a few more skeletons in the closet. Forager said that management were "sympathetic" to their proposal, maybe no one wants to buy this equipment finance business..