"My only fear is cutting out the cancer may have caused some haemorrhagging that in long term could be fatal"
I think everyone was thinking that from Jan 2016 forwards SGH would start its recovery back to some level of financial health, though obviously it was going to be a long slog.
And the results for the 6 months to Jun 2016 did show considerable improvement over the 6 months to Dec 2015.
But if you look at the results for the 6 months to Dec 2016, it's pointing to a terminal situation - which can't be explained away by the small level of seasonality in the group's performance.
Comparing Dec 2016 half to the Jun 2016 half, they had a loss (before impairments) of $56.4m in the December half, compared with $56.8m in the June half - so much the same result.
While there's obviously some lumpy non-recurring items in the December results, the 2017 1H loss was on a much lower turnover - down 23% in $A terms in the December half, so it's pointing to lower levels of net earnings (or higher levels of losses) as a percent of revenue.
All of the main indicators for financial health were either the same or worse in the December half compared with Jun 2016.
It looks like all 3 businesses have suffered some serious damage in the second half of calendar 2016.
Even if SGH did not have $700m+ of debt, it would still be a company with a question mark over its future.
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