re: Ann: Financial Statements for 6 Months En...
They really haven't restructured other than there off shore manufacturing.
They need for example to ditch the Itailan factory and go with a Chinese one. FP gets no leverage out of this Italian. Better to lower costs.
FP appliances has a cast of hundreds to back up their service and sales model.
Time to put a fine tooth comb through this. I doubt it generates much further sales.
With FP it's all about cutting costs now. MAybe the marketing spend needs to come down as well. That's pretty huge relative to the size of this company.
FP spent a fortune to establish themselves in China. What are the results of this and the great Haier relationship there.
Doing what they have always done just won't cut it anymore.
94 million in debt with this profit. That's a sign they are heading to insolvency. They need to act now.
The finance division can't carry the group forever and will have its own tough times.
FPA Price at posting:
28.0¢ Sentiment: None Disclosure: Not Held
