Last time they stretched the balance sheet this far it began to impact on their ability to reinvest in their core businesses for years. Ultimately they had to sell Autobarn which was a little like selling one of their children to feed the rest.
And their revenue hasn't grown that much in the nearly 10 years since, fortunately cashflow has.
They're not in similarly dire straits yet but now they have to balance debt with productivity investment (last time it was fit-outs, warehousing and distribution). Hopefully they don't repeat their errors by starting to scrimp on essentials.
MTS Price at posting:
$3.21 Sentiment: Hold Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)