sp smashed , page-12

Now had a chance to have a look at the company figures over the past few years.
The problem appears to be that margins have been squeezed with foreign competition and changing demographics rather that falling sales.
They have certainly fought a great rearguard action as the world around them has changed
This company is microcosm of everything that has happened in Australian industry/manufacturing over the past 20-30 years.
A classic case of a company operating in a business with low barrier s to competition trying to reinvent itself as Australian manufacturing declines
They would be better off joining the crowd and buying a coal mine and and digging holes
Can't see the company being here in ten years time in it's present form