If you are long WOR I would be getting out today. Only short...

If you are long WOR I would be getting out today.
Only short sellers exciting the stock is providing buying support right now.
Not only was the trading update as disappointing as expected but when you consider continued negative cashflow, no balance sheet improvement, large debts that are now subject to recovery and rumored court case - you get the picture.
Cheers

@vkma,

It's when I see that very kind of "picture" of a stock that you are sketching, that makes me want to do the exact opposite of get out; it makes me want to get in.

I thought "continued negative cash flow" was a curious statement on your part.
This is the first time in the company's listed history (so, since 2002) that the business has not generated positive cash flow from operations.

And the only reason that it did in this the past half was because of cash payments for redundancies and a$350m reduction in payables (which more than offset a $300m reduction in receivables).

If the accounts department did a cheque run to pay suppliers just a few days later, the operating cash flows could have looked quite different.

WOR is a lot of ugly things - including a deep cyclical business - but what it isn't is a capital consumer.