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.
RFT Price at posting:
3.6¢ Sentiment: None Disclosure: Held
