several people did - search rodger montegomery ........stated it...

several people did - search rodger montegomery ........stated it "perfectly" ....

what Management haven't done is:

1. managed the recievables .....
2. stated "what" the banks wanted in terms of new debt scheduale repayements (viz last announc, and the one 19th Feb)
3. as W.C. stated - getting a "reward" for revenues aint a true measure of performance ........ROIC, days receiavbles , inventory , risk management are all things that the Board / management control .......
4. be open and transparent with shareholders - they "sold" 3 operating subsidiaries in last half (see notes to accouts) .......I haven't seen any data on what this actually was !!!!!!!!!!!!!!!!!!!

if there is a "hole" - then rectify it by the most effeiecnt method possible ..........hoping the issue will go away .....is not managing a company.

having said that - they are now being circuled by the sharks ........and will be a tasty morsel for those with a 2-4 year timeframe ......

scuse spelling
rgds
V_H