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clock Created with Sketch. 12/03/18
12:58
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The big drop in SP notwithstanding, it is at least good to finally see some evidence of currency hedging. On p.4 of the Director's report:
Group companies invoice the majority of their revenue in USD reflecting the preference of the client base. Accordingly the Group carries a material amount of USD denominated cash and receivables. As at 31 December the balance sheet contained US$6.5m in cash and IPH Limited and its Controlled Entities Directors’ Report (continued) 31 December 2017 US$17.3m in receivables. Unrealised revaluation gains of these amounts during the six month period totalled $97k compared to $2.1m in the comparative period.
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Has this drawing of debt in USD really not been done before for previous acquisitions?
(20min delay)