Sometimes your better off cutting you losses and walking away. The Rotary business has clearly been a mistake. Europe is a mess and is generally considered to be getting worse. Hastie being exposed to this market has clearly effected it.
Rotary has now had its goodwill written down to 0 and their is only gains to be made from selling it. With construction businesses, the idea behind aquiring further assets is to build synergies and allow other business access to markets they would otherwise not be able to get exposure too. I don't see any of these advantages to holding this business.
I would also like to see Hastie moving into emerging markets. Where Hastie can use the skills gained from their deverse businesses to organically build businesses that capitalize on booming growth.
HST Price at posting:
97.0¢ Sentiment: Hold Disclosure: Held
