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10:41
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Originally posted by tinhat:
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1. Note 29 says that the net loss for the year after tax is $24.7m and that accumulated losses are $58.3m. What other commentary are you referring to? Tax losses carried forward only have value if they can be used to offset future profits to reduce income tax. There are plenty of other things in the accounts to pay attention to over the value of accumulated losses, such as cashflow and the fact that the cost of employee benefits alone exceeds net revenue. Note that there is no discussion in the Chairman's letter about any strategy to reduce costs or increase the efficiency of the group. The review of results states that "The strategic investments and acquisitions have contributed to the higher cost structure as the Group stars an integration program" which seems to indicate that integration costs may go up.
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