VMX 6.06% 31.0¢ valmec limited

For me this is really low quality earnings and I have sold. The...

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  1. 303 Posts.
    For me this is really low quality earnings and I have sold. The $11.6m receivable from John Holland that is being pursued in Court as not been provided against from what i can tell, even though the proceedings were entered into before the date the annual report was signed off.
    In addition, if you back out the the $2.6m gain on re-measurement of equity investment (in other revenue), profit is actually down on last year.
 
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