My thoughts are below. Anyone want to add anything?
1) revenue from core operations looks OK and probably enough to pull the business through (subject to continuing asset sales)
2) however cash seems to be getting a bit low. Although they list $350m on the balance sheet they only seem to have access to about $50m
3) the loan to APT seemed to have been completely written off (about 60m)
4) looks like there is a problem with the Alleasing sale. It looks like a price may have been agreed but not how the proceeds should be split up
5) it looks like the loan to Alleasing may be impaired
6) the letter of support to the Alleasing Trust remains in place
7) there is something a bit weird going on with Re Leasing - AFG seems to have an option to buy the whole business as well as a letter of support in place for it too.
full year report thoughts
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Last
$1.63 |
Change
0.045(2.84%) |
Mkt cap ! $441.3M | |||
| Open | High | Low | Value | Volume |
| $1.60 | $1.64 | $1.59 | $1.514M | 932.2K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3002 | $1.63 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.64 | 34057 | 7 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| AFG (ASX) Chart |