Paperlinx was a dog but there is now some hope. The uk/ European operations were bleeding the company. The Australian/ New Zealand division was propping them up. Now they are being jettisoned. This leaves them with a profitable local division. The company claims the Aust nz division are separate- so assuming they are telling the truth- it is great ( from purely a business point of view) that the overseas branches are got rid of. It is a complete smokescreen that we keep hearing about uk and Europe as if this is bad news- aside from people losing their jobs-this is brilliant news for the company.
Ppx holder only.
SRS Price at posting:
3.1¢ Sentiment: Buy Disclosure: Held
