Ann: FY16 Earnings Guidance-SGH.AX, page-78

I would agree.

By end of February they had fully drawn down their debt facility so there was a fear that there net debt may have further increased this half. When instead with all those consultancy costs and restructuring costs net debt actually increased despite as we know Jan and Feb being cashflow negative months. Then there is the message of performance improvement program in early stages (only started March) bearing fruit. So suggests last few months seen major turnaround in cashflow performance and to announce bearing 'fruit' is based on trading for July and early August. Hint there.

Screaming buy down these levels and big accumulation going on yesterday in my books.