Succinct analysis of a company in a spot of cash flow bother. As I understand it, Razor is all about capital and risk management. Unfortunately, the last 12 months suggests banks around the world have been a bit lax in this area.
I notice UXC in its results had to report a significant writedown in relation to the IT&e investment. This morning UXC released one of those Corporate File announcements - "Open Briefing - FY08 Results and Outlook". In it IT&e was mentioned as "successful in winning large projects worldwide, but isn't making money, which affected our (UXC) result for FY08. We need to assess where we're going with this technology going forward."
As an investor, I'd be worried about this statement - kind of suggests one of its key investors might not be so committed.
ITE
i.t.& e limited
