This from their AGM presentation: "Revenue visibility into FY2014 of $625m as at 30 June 2013 (88% of FY2013 revenue ) –comprising FY2014 Order Book and Recurring Revenue 1. Subject to no further unforeseen deterioration in our markets, we anticipate revenue levels broadly in line with FY2013"
Rio announced the deferral of some work and has also cut their (future) CAPEX more than expected .. and Rio is CGH's biggest client. So where is the guidance (downgrade) from CGH?? Or is it still "unforseen"???
Also did anyone notice (in the AGM presentation) that CGH bought out a small company called e-Tec? FGE bought out cTec which basically bankrupt them. Not materially relevant but a funny play on similar names .. fingers crossed it wont play out the same .. although in the broad picture I think its all too late.
CGH Price at posting:
37.0¢ Sentiment: None Disclosure: Not Held
