effects of consolidation, page-7

dom

i agree they have been mismanaged (along with a long list of other companies) and they over expanded pre gfc (again with along list of others).

I do think the consolidation internally has yielded a lot of cost savings and now they are poised to start growing their revenue base. I do not see revenue dropping from these levels, actually i see a lot of upside to the revenue number from here. I also agree that they will need to start reviewing their capex and spend wisely as opposed to the knee jerk spending pre gfc (to be fiar that was more a result of the poor internal systems, where they did not know what they had).

I think the SP probably reflects their current value, the question is if they can grow the revenue number by 25% then a lot of this should flow straight through to the bottom line and pay down debt.