I remember reading a quote from another poster on Shine. There...

I remember reading a quote from another poster on Shine. There is 2 WIP unbilled disbursements totallling 75% of their WIP.

I remember as i was turned off investing in it. It seems like they have been on the books for a while. Now they are writing it off.

Here is his comment in relation to it.

For SHJ The 2015 year ended with large amounts of WIP and unbilled disbursements. The amount I calculated is that these two amounts constitute just over 75% of the asset base. It's no wonder that free cash flow is significantly lower than EBITDA. I looked at the figures over the past couple of years, and there is no clear trend that this is improving.

I know that Slater & Gordon has been getting a lot of bad press recently, but comparing the WIP to total assets amounts to only around 27% - that's a significant difference.

So Shine seem to be overstating their WIP here comparing against Slater and Gordon standards.