Finally some good news. Certainly not out of the woods yet, as we know the RV division is bleeding.
I questioned them at their Interim teleconference as to whether they are considering selling the RV business due to the poor fundamentals and low returns on capital. Their response gave me the impression that they are prepared to be patient and see through what they believe is a difficult period - I'm not sure it is transitory, and I get the impression that they remain in RV mostly for sentimental reasons!
With debt now under control, we'll now focus on where net margins are heading on their other villages, still intense competition IMO.
Finally some good news. Certainly not out of the woods yet, as...
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