This company has an impressive ability to lose a lazy $5m from...

This company has an impressive ability to lose a lazy $5m from its EBITDA forecast on a regular basis. All a bit shambolic, with the $2m hit on payroll tax being the latest example.

For the year to June 2013, this looks like translating into a loss before tax of at least $5m. You wouldn't rule out further exceptionals or asset write downs either.

Yes, the dollar is going to be a big help for 13/4 , but I would want to wait at least until after accounts are published, and probably a quarter after that, before having much confidence in this one.