Certainly not good news but also it doesn't feel catastrophic.
There seems to be a number of positive initiatives that management is undertaking.
Some positives "The Refrigerated Logistics division is delivering an improved performance following the recenttransformation program and the business has a strong business development pipeline. H2 performance in RL will be a substantial improvement over pcp and that will also add to Groupearnings momentum."
If the Refrigerated Division performs then it will be more saleable
NPAT at say $57.5m on a mkt cap of $605m is a PE of 10.5 so if things at least stabilise from here then the value is OK
