Sounds like that was a crap under-provisioned acquisition - so do they plan to grow by making more acquisitions? Hope not, if their DD is not up to the job. I would like to understand whether their operational performance could have partly improved due to higher provisioning padding it. After all the mentioned $10m for FY 17, so that would appear to lift operational performance by that amount. Does anybody have any view on whether we can take heart from the better operational performance mentioned?
I'm not a detractor of CBL - trying to work out whether it might be a good dip buy or not.
CBL Price at posting:
$2.82 Sentiment: None Disclosure: Not Held
