PPX is heavily oversold.Obris has been buying on the market.Key...

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.