Ann: 2016 Annual Report to shareholders-SGH.AX, page-20

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SirEdmund

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04/10/16

18:35

Post #: 19618088
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Originally posted by Ausbert ↑

I have had a quick view on the report. I did not find any new information. However, I thought the following two quotes are quite positive and encouraging.

" SGS is also currently progressing a portfolio of noise induced hearing loss (NIHL) claims; however, substantial losses were made in FY16 from this portfolio of cases. As cases mature and protocols for resolution of claims are developed with insurers, revenue earned from settlement of cases will displace the cost of claims management time.” They seem certain NIHL money is coming. This will make a big difference in the cash flows.

“The Board and management team firmly believe that the challenges Slater and Gordon are facing can be overcome and that the business can be reset to deliver strong financial results as it has done consistently prior to FY16. We remain convinced that taking a leadership position in both the Australian and UK consumer legal services market best places us to deliver long-term value for our shareholders. We thank you for your continued support of Slater and Gordon and look forward to updating you on our progress.” I like the upbeat tone and the part “ Slater and Gordon look forward to updating you on our progress. I believe that they are going to update us at AGM in early November.

It feels like good time is coming.

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1st point sounds like they are saying the cash coming from nihl will not be shared with wtg given the costs incurred. Good news as the costs have already been absorbed.
SGH Price at posting: 38.5¢ Sentiment: Hold Disclosure: Held
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Ann: 2016 Annual Report to shareholders-SGH.AX, page-20

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