re: Ann: Acquisition of African Engineering B...
When I read the announcement, my response was "ouch".
Some previous comments, though, need to be challenged.
The underlying business is profitable - just. (the H2 loss of $2.3M, is driven by redundancies of $3.6M). I suspect that margins will be razor thin for some time.
They have no debt and plenty of cash on the bal sheet, so there is no need to raise capital.
LYL have not yet made an acquisition. The acquisition of ADP holdings will be occurring late this calendar year (as per the ASX announcement on 14 April), and will be funded from the cash on the bal sheet.
HT1
LYL Price at posting:
$2.48 Sentiment: Hold Disclosure: Held
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