So of the $17 million receivables at 31 December a maximum of $3.7 million was received and even if all were on 180 day terms then $13.3 million are overdue. Amazing. Not only have most current projects been deferred, but little payment has been made for work already done. Plant is no longer working flat out and expansion deferred. Guidance withdrawn. Much worse than I expected.
It should be a bloodbath tomorrow. I am glad I am out.
Ann: Business Update, page-15
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