This is most disapointing as its seems to show the following: 1) EBITDA increasing but net Income reducing on a per share basis. Is the difference management charges from Hastings increasing? 2) The Per Share EBITDA is static from 2012-2014 but EDITDA increases ? Does this mean they will issue more Shares? to dilute the existing shareholders each year? 3) It is still not explained as to what they are going to do with the current cash pile. Why do they not pay off the Menazine Debt? or have a capital return. All in all We should have kept the Water Company in the UK to pick up the currency differential that when the Dollars evetually falls.
HDF Price at posting:
$1.58 Sentiment: Hold Disclosure: Held
