Ann: Trading Update , page-5

Last night's update is bad tidings. Profit in current half-yr set to drop 40% from 5m-3m! Rev is down and costs are up. Being squeezed at both ends just as firm completes an expensive expansion to service the 'mining boom'. I can't see how LGD can say they hope to match last FY figures after such a poor first-half. Plus housing mkt remains weak. Ignore the macro at yr peril. 28c quite likely today.... but i don't know where the bottom will be. I resisted buying LGD on several occasions when i realised how much 'goodwill' in on their balance sheet. Goodwill grown enormously over past few yrs. Rather give me NTA anyday.