They have a huge wage bill which needs to be maintained to win new contracts. I don't think you could cull and then rehire when you win contracts. Cash is going to be a big problem. The company is highly geared with lots of goodwill sitting in the balance sheet from acquisitions. Tangible net asset is precarious. Not sure the covenants are but the banks must be jittery.
Ann: Half Year Report - Results Presentation, page-4
-
- There are more pages in this discussion • 5 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)