To me NWT was of course always risky in its ambitions but it was under-pinned by the strong performance of its core business which was growing slowly but solidly. It all unravelled though in its financial report in February when they reported a 20% drop in half year revenue due to loss of important contracts. Since then it has become a much higher risk proposition and it's not coincidental that the share price has gone from close to 50c back to 16c in that period. Not much else has gone right since yet AB continues to feed himself and associated management ever increasing salaries.
An opportunity lost it seems but I've always questioned the true intentions of this company anyway. Always a concerning when the MD will experience no risk at all whether the company succeeds or fails.
NWT Price at posting:
16.0¢ Sentiment: None Disclosure: Held