Ann: Half Yearly Report and Accounts, page-5

Hi brily, yes they are trying to make it smaller. The problem with making a professional services firm smaller is keeping the best people and clients while you do that - they tend to walk out door making it smaller still. It's a vicious cycle.

They also have the problem now that many posters have commented on before of being a US hedge fund trying dealing with Australian union clients, as well as new competition including from ex-SGH staff setting up new firms.

Te reason the report says the company now has sound fundamentals is because the debt has gone, so compared to being on or over the brink of bankruptcy yes it's sound, not because the business outlook is positive.