Todays announcements seem to have been produced by the marketing...

Todays announcements seem to have been produced by the marketing department with minimal reference to the accounting department.

I can't see any previous announcements about the $25m write offs which obliterated the profit. Also there is very little info around these write offs - almost as though they don't really matter. Didn't they have write off also in the H116 result as well? Continuous material abnormal write off items has a tiresome effect on me and makes me wary of management.

Operationally the figures don't look too terrible to me and the loss of the dividend seems necessary - maybe a tap on the shoulder from the banks given they eliminated it totally.

I'm undecided as wether to top up a few more and hold out for a long term improvement or sell all and move on???