AlastairThe asset side of the balance sheet has ~80m in...

Alastair
The asset side of the balance sheet has ~80m in Intangible assets & Deferred tax assets.....goodwill is worthless if you cannot generate and revenues, and the DTA is also worthless if you cannot generate profits to offset and future tax liability.

There should even be a question mark over their NZ PDLs given how poorly they managed their Australian ones.

CLH was my biggest $$ loss so perhaps I'm slightly biased, but a company that lost 32m (in real money...not writedowns etc like FY2020) and mgmt (board & execs) got paid over 3m in both FY2020 & FY2021.......I see nothing in their strategy indicating any change in strategy or improvement in their business......I'm shocked the auditors (& bankers) are looking at this and not sounding the alarm