Burning cash? Last half Wellard made its best GP margin for a couple of years - and the margin has got higher this half due to falling Aussie cattle prices. It has also freed up significant cash by reducing its trading book and still had $30m if inventory on its books at 31 Dec which can always be freed up IF the lenders had an issue.
No bank support? Hmmm. They didn’t pull the plug over the past couple of years while they could. Why would they do it now with Wellard in the mend?
Believe it or not, even on current GP margin and by moving to 100% ship leading model (no trading - therefore free up $30m in inventory), Wellard would be debt free in 3-4 years and have the best fleet on the planet.
Do the math before shooting from the hip again.
Burning cash? Last half Wellard made its best GP margin for a...
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