Ann: Half Yearly Report and Accounts , page-3

sKdoo,

A few matters concern me:

[1] NCAO poitive, but inventories run down to much lower than historical levels, so questionable as to sustainability of this level
[2] Operating loss - this is a big issue and you have to wonder if the business can come out of this trend
[3] Bank breach - bank would have agreed previous continuation of facilities based on a forecast, and it would not have looked anything like this result I'd say

I dont like this at all. There will be more demands on cash in this business than the business can afford (including areas like repairs and maintenance).

It'll take another raise to right this ship.