write downs etc

I wonder if the market will sell down the shares or pile into them tomorrow? I have no idea how the market will take this news.

They are expecting $50 mill in profits before tax after writing off $69 mill. So recurring income to business is $119 mill pre tax, 83.3 mill after tax approx. (or about 83 cents per share). Write-offs are nasty - but underlying business and interest income is down from $143 mill to $83 mill which is about 42% down. Sp is 80% down on last years peak. I imagine the investment income is significantly lower too due to lower interest rates, so the business is probably running better than down 42%.