EBIT will be lower than there stated 10 - 12m, page-49

galba

anz sunk them several months after the initial problems were uncovered, after they had korda mentha go in and have a good look and realise problems were a lot lot worse.

that took 6 months and they did at least try to support them. fge we not even making postive ebitda and were a basket case - debt levels were a lot higher than many thought due to bank guarantee position.

ttn is a totally different case - issues are not related to a massive hole in a fixed priced contract that needs to be funded - ttn are just going to make less money and most likely can the dividend for the next year. disappointing but not life threatening.