A fair chunk of those long term liabilities are the leases, presumably for their media/signs (balanced somewhat by the right-of-use asset which you haven't mentioned).
That's a very different type of liability than borrowings/debt (not least because the lease payments are somewhat predictable and directly underpin their source of revenue).
I'm far more interested in their margins and cashflow and that's somewhat less predictable at present. They've made some positive noises but it still boils down to educated guesswork.
Ann: Annual General Meeting - Presentation, page-38
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