Originally posted by nihilism
We have been through this also and it is because of the ACQUISITION. That does not mean the underlying business is LOSING MONEY like you're suggesting.
I dont know how else to phrase this.
Read the balance! 3 million financial liability for acquisition. Increased provision allowance for the acquisition. Borrowings- for the acquisition initial purchase!
Take those out of the current liabilities and you'll see the existing business made money haha
Exactly - they are spending the cash they are generating in operations, and supplementing it with some debt to expand the business, AND this is the key thing, into more profitable, and faster growing segments (Services).
Now - Jury is still out as to if they can pull it all together into a seamless national business, but I'm glad they are giving it a crack.