I don't know, their debt has been looking unmanageable for well over a year now. Of course if they could lift EBIT (those elusive synergies) then they could have turned the ship around. However it continues to fall, faster than management can even anticipate. Its looks to be in deep trouble, shareholders will slowly find their entitlements to future cash flow streams have dried up.
Management still apparently don't even understand the business' structure, nor accounts. Someone else needs to be brought in, but if management still don't know what VOC is after all this time, who will?
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- Ann: H1 FY18 INTERIM RESULT PRESENTATION
Ann: H1 FY18 INTERIM RESULT PRESENTATION, page-44
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