$6.0 million EBIT for 6 months minus interest of let's say 11% on $70 mill that is another $3.85 million down before DA. That gives them $2.2 million plus/minus changes in working capital to get to cash flow. I assume that the improvements in working capital were used to pay down debt hence no help to cash flow. And do not forget the one-offs which would have run past the $10.0 mill mark. Not good and not enough ideas to counter this. I sense complacency and I hate it.
WYL Price at posting:
47.0¢ Sentiment: Hold Disclosure: Held