Ann: Quarterly Activities/Appendix 4C Cash Flow Report, page-62

If I am not wrong TNT has $70m Goodwill as an asset sitting in its Balance Sheet, well if that is the case the recent steady decline in share price is justified partially because Management will ammortise half of the goodwill in this financial year this will impact the books and fundamentally it will look unhealthy. However, current price decline is unjustifiable, It happened from mid may to mid June 2020 and then boomed, it could happen again but not that big as credit is not available cheap for punters.