re: Ann: Advance Notice of Full Year Result A... Hi Cato
Thinly held former market darling.
they will need more cash to finish villages that will generate long term income. osprey isnt a bad project, in good times would be icing on the cake, however the bum has fallen out of the other parts of the business at the same time cash for capex needs are greatest. had they kept a nice cash pile instead of the very high dividend, they wouldnt need to borrow much, if at all. now no divvy and a fairly high capex plan. look at the cashflow statement. rv business went further backwards in last half as well.
fundamentally it is not a bad business, its just the outlook is not great, but typical for a wa business leveraged to mining industry.
baraka
Ann: Advance Notice of Full Year Result Announcem, page-11
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