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clock Created with Sketch. 21/03/16
12:49
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Originally posted by sohei
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You really don't get it Piggywig. It isn't really just one negative H1 if cash flow is fueled on insane levels of debt and less than accurate balance sheets. They are not nine months into growth by acquisition, they are some years into it. What's more SP growth has been carried along by the appearance of rapidly improving financial viability built on aggressive acquisition and exponentially increased debt level all the while being led on a merry dance by a management structure (with the exception of Houghton and Miller) with no demonstrated capacity to actually integrate business models as opposed to just borrowing money to buy more of them and (for me personally) an apparent unwillingness to embrace transparency.
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Less than accurate balance sheets? ASIC have just completed their investigation into SGH accounting and have found nothing. Cashflow is lumpy and delay in case settlements for various reasons during H1 affected the results. Sure debt is high but look at the revenue which is expected to be more in H2 with more case settlements. Anyway this has been posted in various forms many times but some choose to make their own stories.
