I take the announcement as good news. only an under $100m write down of PDL as i expected. I also picked a net profit of about $80million befroe write offs.
it the notice it mentions that there will be more bad debts they can buy of up to 80% more. this points to higher future years revenue/profits OR only purchase high quality debt.
I recon in 2 years they will have net profit of $100m * 15 P/e is $1.5b market cap.
Ann: FY2020 Unaudited results update, page-29
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