Agree Shania!How sheepish the Directors must be if they are...

Agree Shania!

How sheepish the Directors must be if they are still in nego with Balron!

And to blame "undisciplined procurement" from Sept 2006-Feb 2007 is questionable. If they had $ 154 m of stock, now $ 134 m, as at June 2007, what's the stock really worth? Only as much as their customers are willing to pay for it.

If it's overpriced, why no stock write downs? What's the stock really worth in the market place. Surely not ALL of the stainless was bought on the high levels of Nickel? If so, they're in the manure. Not sure what costing methods theys use (FIFO/Average etc.) but I still maintain other importers/stainless distribution companies are doing it much better than AHS. (BSL,OST, CRG etc)

Something isn't gelling here and I don't know what it is.

The Directors need a slap across the face with a wet fish.

Thank goodness for Bisalloy. It's a cash cow, and wouldn't be surprised if someone bought purely for this, and tried to divest the distribution arm which needs chopping off at the shoulder anyway.

Despite a reduction in numbers, wages/salaries increased 10% from $ 20.325 m to $ 22.831 m.

I dunno, is there something I'm missing here?

Can't quite fathom this one out, but it's very disappointing, given their previous history.

Hamish