Hi Damo79, Understand where you're coming from. I believe...

Hi Damo79,

Understand where you're coming from. I believe management's announcements on shifting to part time shifts as well as closures of some permanent locations has been part of their active management response to the declining order book. You are right, there won't be a complete proportional decrease. At some point in time they will overrun in costs, but if so their order book would have to be very light on.

I would imagine with the loans all fully paid off they are mainly burning off wages, rent and other working capital, which is a much better situation to be in than having the bank knocking on your door to collect interest. That said I am hoping that they've held onto more than 50% of the revenue from the last report in this half yearly, but I wouldn't be shocked seeing some big % falls in revenue. Am hoping for at least 1-2 m in cash and operating profit generated, which would be down from the 5-7m from memory they made last fully year, but still great if they are holding onto assets and leveraged to the upside.

What concerns me more is looking historically there isn't much in the way of announcements over most typical years - so this is one of those stocks I feel as if you really don't know what the heck is happening. They could gain some new work or finish and I wouldn't know.

Wish like some companies they would detail their order book somewhat, or at least some more guidance on what's left.