The balance sheet looks to have slightly improved although that is mainly because lease liabilities have reduced as probably the present value of the terms of the leases has decreased as they run out .
Not sure exchange rate is such a big factor when establishing a beach head into the USA , they are likely to lease a facility there to , so low CAPEX to establish
Yes Overall a poor result by LBL , and I feel they would have been wise to inform the market earlier that apart from revenue, EPS would likely take a big hit, may be some fresh ideas are needed ?
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