Hi hottuna,
How do you think the market should interpret the 2015 profits?
PBT was $ 114.531 mm, 98.08 % came from " valuations " by senior management, consisting of gain from bargain purchases $58.939 m and net movement in WIP $ 53.339. These are not realized profits but borrowing profits from future earnings. Deferred profits but counted as profits now. The tax on these "profits" is also postponed.
Worse still, $ 142.83 million has been borrowed from future earnings in WIP valuation alone, and a forward guidance of $ 205 million profits for 2016, now retracted.
I am still a believer in the good bits of this company, but for now, bailed out on Monday and have saved $ 39,900.
Good luck to the believers.
- Forums
- ASX - By Stock
- SGH
- Loading up the truck
Loading up the truck, page-12
-
- There are more pages in this discussion • 4,504 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add SGH (ASX) to my watchlist
Currently unlisted public company.
The Watchlist
FHE
FRONTIER ENERGY LIMITED
Adam Kiley, CEO
Adam Kiley
CEO
SPONSORED BY The Market Online