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likely to repeat in North America but not Australia as Blundy's...

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professorsharp

603 Posts.

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21/08/23

10:53

Post #: 69451341
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Originally posted by Stefanova: ↑

The disposal of the EMEA business for minimal consideration came less than three months after the statement that EMEA would generate cash from running down its inventory. If that statement was correct, why the sale? It seems pretty obvious that the May statement was a triumph of hope over expectation: distressed inventory gets harder and harder to sell even at discounted prices as customers pick the eyes out of it, so trading losses offset the liquidation benefit.
The fact that bank lines are being tightened suggests to me that the bank wouldn't fund the EMEA business and there was no choice but to sell it. The characterisation of the transaction as one based on a strategic review is strictly correct: it looks like it was the bank's review, though.
The EMEA experience could be repeated in Australia and North America. Just saying....

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likely to repeat in North America but not Australia as Blundy's interest is in Oceania the plan is to likely liquidate operations globally and focus solely on AUS & NZ. Hopefully, he doesn't scoop it up at these depressed levels before holders get a chance to recover. GL all

CCX Price at posting: 52.0¢ Sentiment: Hold Disclosure: Not Held
2 Upvote

2 Great analysis

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Last 39.5¢		Change 0.020(5.33%)		Mkt cap ! $91.60M

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37.5¢	39.5¢	37.5¢	$20.82K	54.53K

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0.405	2471	1
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