PBG closed at 69c, a good run up for the day.PBG started its free fall during September last year from a high of $2.20 because of the market squeezed on liquidity and PBG was perceived to have problems renewing credit facilities due.Jan last year it was trading around $3.50.As late as august it paid a half year dividend of 8.5c fully franked, a full year 17c dividend franked 100%. Cost has been cut for savings of $150 million per annum. Its capitalisation was a mere $100 million not so long ago.If the runs are truly on the board, PBG should come home with a wet sail.It has renegotiaed its loan. Past experience is it won't get to fully recovered before private equity who understands how the business works will have another go at it.It is hard to rationalize, do TA will continue with he sor from here on.
PBG Price at posting:
69.0¢ Sentiment: ST Buy Disclosure: Held
