lots of competition out there hard to see where the growth is...

lots of competition out there hard to see where the growth is going to come from to pay down the o/s debt

they've already shut down dry hire as couldn't match it with the big boys Coates & Kennards

atm thinking more bust than boom,takeover unlikely as big debt on books,industry in down,projects not going ahead so pressure not there to pay higher multiples

they need to do a cap raising at 5c to clear some of the debt rather than continue rolling over,it will be heavy diluted for existing shareholders,

from the outside,don't think its been well mgd by those at the top very well.

just my 2c opinion

better value elsewhere.