At last they are realizing that the grandiose expenditure in the US was a waste of time until they get their local market in order.
Closed the US office - those on the payroll for that exercise obviously achieved bugger all.
One of their objectives is to cut costs - what a revelation!!!
A reckless expansion program was put in place without consolidating the local market.
It now appears they are coming to grips with reality of operating this business.
Ann: IMEXHS Investor Update, page-2
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