Alright finally caught up on my hotcopper reading. Just had a rough day in the office - expected some people to jump ship from that BPO note on Ropren.. but doesnt look too bad at all. I know they'll have to buy back in at a higher price... so just adds to the fireworks when she takes off !!
So I've had a look at the App 4E. The 3.2m segment sales looks like it relates to sibex and not Ropren. If you look at the revenue recognition point it states revenue is net of amounts received on behalf of 3rd parties.
The 1.8m receivables could be from a loan? Unlikely to be sales because your entries would be
Dr Receivables 100
Cr Sales 100
And sales revenue has not obviously been hit. Not too sure about the accounts, and probably not the best out there.. but for a company like SLA they look pretty clean and up to standard.
I agree with Barnsty and there wasnt too much to be excited about (i.e. nothing new we didnt know) - other than the fact things are starting to turnaround slightly 20% improvement from FY07's profit. Sales are up from BioA. Goodwill has increased substantially. But FY09 was always going to be the turnaround year. SLA indicated all along that FY09 was going to be the year that SUBSTANTIAL dividends are going to be paid to shareholders in FY09. Those were their exact words in one of the announcements.. cant remember which one.
But I think sales of Ropren are realisticly going to start very soon. Not that it really matters as the LT shareholders hopefully have their positions already ... really the fact that sales have not been confirmed is a blessing to most of you because you can still get in under $1.
And I think $1 will be reached soon.
SLA Price at posting:
0.0¢ Sentiment: LT Buy Disclosure: Held
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