Top summary on FRE. ENG's was released 5th August. If it wasn't for the sale of Unwired they would have lost $12.1mill for the year.
Employee costs remained at 12 mill for the year with 88,000users
Operational revenue increase by $5million but payables increased by $8million lol.
They've got $6mill in the kitty. If they are not successful in tightening costs, they'll survive only 6months or be forced to do another placement or sell out. The 4C suggests they may have just found the right path in tightening costs but the next qurterly will see how good ENG management actually is.
I reckon Seven shareholders would be seriously questioning this investment.
MNF looking the pick atm
Bring on the ADSL2 and the naked DSL next I say
Cheers, The Sparkler
MNF Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
