It equates to a 15-18% hit to underlying earnings. VEI are an extremely highly indebted company who is only just covering their loan repayments + interest. This announcement raises VEI financial risk further and further delays the hope of dividends.
VEI are in a precarious position, they have very little wiggle room left now. If anything more goes wrong for them...imagine if another part of their business was hit with a similar problem...
