I agree...good ann...they have a focused view of what they want to achieve and that's refreshing.
Debt is under control and with the backing of LLC this business has legs.
They flagged two interesting things without actually saying the obvious:
(1) The have a planned valuation program...but only made veiled hints as to the likely effect at 30/6. For mine, there are further write-offs to come, but perhaps not too harsh.
(2) The asset mix contains some "not so optimal assets" where they don't get 100% of the DMF "lolly". I'd imagine this is the stuff they manage for PTN which they might look at re-negotiating or surender the management contracts.
No distribution this half...but we knew that.
Surely this should go for a share run to low 20's based on ann.
LLP Price at posting:
13.0¢ Sentiment: Hold Disclosure: Held
