Sounds like a lot of 'management fluff'. Provisioning can change as a result of the move to Estimated Loss methodology but a change in 'arrears' policy is new to me. Its either x days in late or its not, hence shouldn't change which arrears bucket a receivable goes into.
Balances in arrears have gone from $1.75m to $12.9m, write offs jump from $1.4m to $5.3m and additional provisions from $2.5m to $7.3m
And lo and behold the CFO has resigned....
AXL Price at posting:
$2.01 Sentiment: None Disclosure: Not Held
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