Lots of companies need debt at times, in order to fund for recovery and/or growth. At the risk of repeating myself, current Management ( and I mean the MD) were not part of the team which acquired Nifty. The MD came on board one year ago, looked at the situation, set out a plan and from what I can see is following through.
Without also putting words in his mouth, surely if he had assessed were a complete basket case, the Reset Plan would not even exist.
Each quarter, he maintains, will get better, and we should be better than breakeven at Nifty in the March quarter. Pressure is on!
In the meantime, from what I can see, Renison’s profit should also increase quite a lot in 2020.
Arguably, there is a lot to look forward to.
Having said that, I agree, that this is not all beer and skittles
MLX Price at posting:
17.0¢ Sentiment: Buy Disclosure: Held
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