is pxupa a buy?, page-18

PPX is heavily oversold.

Obris has been buying on the market.

Key financial data on 31 December 2010.

NTA is around 34c
Cash position is $130m
Net debt is $300m
Turnover $2,400m

The key factors drive sp down:
weak performance in EU & UK,
rising AUD (imo AUD is on the top, when it starts falling, PPX should recover)

PPX's financial position is not as bad as I initially thought. The largest debt has also been extended to 2013.
18% gross operating margin. Currently market cap is only around $110m, it should be recovering.