Markie
Hi- hope you do not mind me popping in. I do not read this well at all and it could be the first in a series of chain reactions.
They have until 5th May to finalise overdraft? financing arrangements and what happens if answer is No. To me it feels that the Auditors have driven this by insisting they write down assets that have been an issue for a while? It was only about 3 months ago they wrote off $57 Million for other pharmacy loans.
a big chunk of pharmacy spend is via Amex and they could review arrangements? I think this has more to play out and for me its an avoid. I do not see how any Australian pharmacy wholesaler can increase margins to justify SP increase without new revenue.
Competitors have far stronger balance sheets.
MarkieHi- hope you do not mind me popping in. I do not read this...
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