Just come back from 3 weeks out of communication range to see...

Just come back from 3 weeks out of communication range to see the FY19 prelim.results for ATL. Pretty much as I expected - loss of margin due to heavy discounting to reduce overstocking and impairments to goodwill due to loss of profits and stock values. This could be foreseen with their national TV advertising price reductions around Xmas 2018 and later. North America was originally giving the best margins and profits but that market has slumped dramatically causing them to discount second hand stock heavily over there. If it was not for their fleet rentals and camper trailer business creating cash flow I would see bigger problems. The debt is largely lease and floor plan from my understanding and if so would be more likely originated in the country where the stock concerned is held. I would be happy to be corrected as I am a previous finance company employee and tend to see read things based on past experience.