coffey, no cream, page-4

Onxy – My experience with capital raisings at the bottom of the market have been positive. I will be begrudgingly taking up my entitlement unless the market heads south again. There are a few positives from the CAPEX announcement:
• The 45M EBITA guidance has been confirmed. This implies the first quarter has meet guidance. They should also handle on work in hand for the next 3 to 6 months.
• Lower debt will reduce finance cost by around 5M+ per year and also reduce the risk associated with high gearing.