OST 0.00% 86.5¢ onesteel limited

If these assets were so great then why havent they generated...

  1. 8,443 Posts.
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    If these assets were so great then why havent they generated enough prfoit to start paying off some of the debt?

    Debt continues to increase and management state that debt will increase once again over the next 6 months.

    Seems like a sheesh load of debt to be in when profits have dropped 50% and cash in the bank is looking very thin.

    Its all good borowing money if you can pay it back but it doesnt look like they have managed to pay any debt off over the past 12 months, instead it has grown by over $700 million.

    Last half yearly report proves that the company is in real trouble. A drop in profit by nearly 50%, making a loss due to write downs, increasing debt, it doesnt look good from where im standing but thats just my opinion.
 
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Currently unlisted public company.

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