re: Ann: Acquisition of African Engineering B... Wow, and this particular downgrade is quite something to behold.
For it comes from a company that I always considered to be the best of a bad bunch, and that I was looking to buy at some stage once all the toxic market conditions had settled down.
But this downgrade says a lot about just how bad things are out there. For these guys to report a loss in any financial period would have been unthinkable before.
And that loss is even after they made a recent acquisition, which shows just how the existing business has imploded. A mere 18 months ago they were reporting over $35m in EBITDA. Today the EBITDA run rate is zero.
It's now its almost impossible to know where earnings and hence the share price settle.
Little more than guesswork and hope now, and those aren't great drivers of smart investing.
re: Ann: Acquisition of African Engineering B... Wow, and this...
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