No question - this is a sensible move. A business like DCG needs working capital, tying it up in an office building makes little to no sense. Having said that they need a strong balance sheet to win work - and a commercial property like there would have been seen as pretty solid.
To show the fall from grace of DCG - as of 30 June 2015 they had a $27.5m building and $59m in net cash and revenue of $665m. This financial year they may have revenue of $350m (but I doubt it) $0 net cash (or maybe less) and the proceeds of the building and the share price is about the same. If this continues for 1 more year they are in serious trouble.
News: DCG Decmil Group announces sale of non-core property, page-15
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Last
29.5¢ |
Change
0.000(0.00%) |
Mkt cap ! $45.89M | |||
| Open | High | Low | Value | Volume |
| 29.3¢ | 29.5¢ | 29.3¢ | $87.91K | 300.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 15 | 2533769 | 29.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 29.5¢ | 594927 | 9 |
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| Last trade - 15.36pm 24/07/2024 (20 minute delay) ? |
| DCG (ASX) Chart |