Potential is one thing, results another. Where's talk of China? According to the HY results the focus is on SEA and Middle east.
Just going by the facts.
Missed guidance, no future guidance, no new contracts and future earnings assumption misleading due to some interesting accounting assumptions....Assuming a life-span of 100 years for hire equipment???
Talk of staff retention is interesting as there should have been some synergy from the hire access merger I'm ok if it's a sales force not if it's G&A) as we need to get some scale into this business quickly as 8m of contracts in H2 and 7m of SG&A doesn’t fit.
From the cash perspective I think they're really stretched. There's 4m in cash, 4m recievables, 6m in payables so if there's capex in H2 ($6m in H1) trouble brewing...
I hold and DYOR
IFS Price at posting:
6.8¢ Sentiment: None Disclosure: Held
