Yes the 2009 sales were dreadful compared to others but remember the other side of the buisness which is doing quite well.In addition they have the income carry over from last years record sales which will boost the bottom line In a statement to the market recently the company said sales of $60m would only reduce profit by $7m so they will IMHO still produce a profit. I suspect that div will be suspended or at the least be substantially reduced to assist liquidity Hopefully there will be a bounceback in 2010/2011 for this well managed and promising company I agree that the issue of bank covenants are a concern in the current climate but have taken heart from the fact that the banks appear to be happy at the moment
FEA Price at posting:
8.9¢ Sentiment: LT Buy Disclosure: Not Held
