PBB, however, believes the seeds of Hastie's demise were sown a...

PBB, however, believes the seeds of Hastie's demise were sown a lot earlier. After it listed on the ASX in 2005 Hastie spent $277 million on eight acquisitions between 2008 and 2010 that it financed with $154 million of equity and $123 million of debt, which PBB says was a higher debt load relative to cash flows than other listed contractors.The short version of the explanation for Hastie's failure is that the poor strategic, operational and financial management of Hastie, the poor performances of the companies it acquired and increased competition in the post-GFC environment affected Hastie's cash flows and it was unable to meet its debt-funding obligationsIf they get this right it will transform this company and hence the share price for us poor long suffering shareholders.


This is what can go wrong and is a cut and paste from a report into the failure of Hastie that used the strategy that BPP is pursuing. I think the people here are a lot better. I am hoping it all comes together for the poor long suffering shareholders as they are IMO in the right business .