RFT 0.00% 0.7¢ rectifier technologies ltd

Ann: Half Yearly Report and Accounts, page-26

  1. 7,592 Posts.
    lightbulb Created with Sketch. 239
    Yes.
    Could/should have been a lot worse given severe lack of market demand & drastic reduction in sales of 62%.
    # The 3 segments produced positve EBITDA of around 10% each (down from historical 30%)
    # Cash flow +ve ....A virtue of cleverly managing creditors hence the large payables.
    # Paying down debt.
    # Evident effort at containing the rampant expantion in inventories & stocking of raw materials......Inventories remaind stable with next to nothing raw materials expenses.
    # working capital dropped significantly from $16m to $10.5m.....35% drop.
    A picture of a businness pulling in its horns in the face of non existent market demand.
    I have to say that the mistakes happened under the watch of the old management team....Who is responsible for the remedies? we can't give the new team any credit yet.
 
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