Nomad reports statutory loss for the first half of $7.35m after goodwill impairment of $5.0m and $4.6m loss from underperforming Rapley business.
Excluding Rapley losses and goodwill impairment, Nomad generated an EBITDA profit of $3.3m for the first half.
Post further asset sales to Black Diamond Group (refer ASX announcement dated 28 February),
Nomad has net cash at bank of $ 11.8 m as at 28 February 2013 and no bank debt.
Nomad order book stands at $42m
Eliminate Bank Debt and Build Cash.
The Company has successfully reduced its banking facilities from $14.5m at 30 June 2011 to $0.5m at 31 December 2012. Further debt repayments were made in January 2013 reducing borrowings to zero .
NOD Price at posting:
13.0¢ Sentiment: LT Buy Disclosure: Held
