ckl = frm run mgmt

compare orig top20 to top20 in 2004 annual report
and it pretty clear that some insto have decided to take the $ and run

u can't blame them this stock is already highly geared and has little if any $$ in the bank that puts a big ??
on business strategy & growth plans plus pressure on the balance sheet!

its all very well to go to mkt and put yr hand out for some $ but at the end of the day this is likely to crunch eps and the share price unless sales rev increases beyond expectations

going forward there's potential for increase in interest rates and discretionary spending on products that ckl produces cartons and packaging for might be negatively impacted by reduced demand for such 'premium'products