So TNT have now drawn a total of $5 MILLION (up $3Mil from the previous qtr) from the loan facility which is the only reason they still have any cash left. That's more than half a million on interest repayments per annum alone. CF positive == no chance!
They keep digging themselves a deeper and deeper grave.
Other points from the 4C:
- costs are through the roof (higher revenue only entails higher losses for TNT)
- revenue is up only marginally
- massive debt to service
- balance sheet insolvency
What a disaster!
No wonder Geoff Lord had to step in! That explains his motivation -> the ship is sinking and doing so fast
So TNT have now drawn a total of $5 MILLION (up $3Mil from the...
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