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54.5¢ slater & gordon limited

Mighty as much as you want to trust management. Grech has got it...

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632 Posts.

19

21/12/15

14:37

Post #: 16659603
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Originally posted by Mightyatom ↑

Since 2006 SGH have reported aggregate revenues of $2179m

Since 2006 SGH have reported cash receipts of $2001m

Therefore on average WIP and other revenue items are approx 8.5% of cash received. That has been consistent throughout its period of operation.

Does that suggest a company that has manipulated its revenues to generate profit?

Anecdotally, putting aside the issue of whether agree or disagree with the accrual concept of WIP - would it seem reasonable that in the course of a financial year approx 10% of revenue is on the way to completion but not yet settled? History shows it comes in as cash the following year.

Keep in mind that approx 10% has been relatively consistent, not growing out of control.

Each to make up their own mind. The reported figures do not suggest a company built on phantom revenues.

I accept today is about the future. However, many seem to want to push the SGH is built on a house of cards theme.

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Mighty as much as you want to trust management. Grech has got it wrong. He has to go. Hayden Stephens should take over

Then only time will settle things.

New CFO getting things in order.

SGH Price at posting: 83.0¢ Sentiment: None Disclosure: Held
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