One of their biggest sources of income was the sale of new franchises. That all dried up following the bad press. The plunge in share price and income was such that they were at risk of the bank pulling the pin on their debt facility. New CEO is a turnaround specialist and from all indications he's doing just that. It's back in the black. WHSP (ASX:SOL) just tipped in a fair chunk more which is a huge vote of confidence going forward.
IMO this month saw the turning point for the SP and so after a top up last Friday, this is my second largest holding behind EXR.
It's a fraction of what it could be worth in the near future. Exciting times ahead.
DYOR
RFG Price at posting:
8.4¢ Sentiment: Buy Disclosure: Held
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