Hi All
Have recently looked at this company's financial reports and think it may be in a bit of trouble. Interested in your thoughts. Issues are:
- with acquisitions last year, this years NPAT should be around $85 Million, not between $73-$78 Million. Companies NPAT has been propped up over the last 3 years due to acquisitions. Acquisitions are masking a decline in this business over the last three years (similar to its peers).
- dividends are being propped up by borrowing cheap capital in the US at 3% and raising capital.
- not honestly reporting decline in revenue excluding acquisitions. Believe companies that are open and honest will suffer short term, but fix problems. Cardno are either unaware or ignoring problems. This will potentially lead to a larger fall in share price than if they had openly advised of issues and address them.
Best of Luck
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Mkt cap ! $13.28M | |||
| Open | High | Low | Value | Volume |
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