The insurance recovery was from the CA settlement. The insurers recovered some of the settlement amount , namely A$11.4M , because of the criminal charges laid against the then CEO and CFO . This contingency has been carried as a liability on the balance sheet since then and now has been cleared. This saga has now been put to bed. The bad debt provision is concerning and hopefully this area will be better managed going forward. Hard to see how a customer was allowed to run up a debt of this size . Many positives though , including very very low debt level. China supply continues to be interesting and Sigma may benefit from the trade announcement on Tuesday. Dividend may well have been higher if not for A$19.7M one-offs. Share buy back to continue , which imo is good as reduce the number of shares by 10% . GLTAH.
SIP Price at posting:
$1.23 Sentiment: Buy Disclosure: Held
