Of course the half year result will be a loss .If it was in...

Of course the half year result will be a loss .

If it was in profit in this half then the company would not have needed to drastic board changes , fight with hybrid investors , and do a further restructure

The new exec director ( Andrew Price ) only became operational after the previous board was outed , or stepped down , and started rolling up his sleeves with around 6 or 7 weeks of the December half to make a difference

The CEO was formally appointed after that , a new CFO was appointed after that again , and the 2 non execs have only just arrived so have had no chance to make a difference to this halves figures .

The key will not be if they make a loss , they will, the key will be the commentary the new board includes in the half year result and if they have an air of confidence in their release

It will be also important to hear , how many of the 18 countries are profitable , hopefully upwards of 12 , and what impact the action plan has made now it has commenced .

Also what impact the recent re structure has had on short term cash flow , sentiment of staff , and the lead bankers .

Finally has there been any progress made on negotiating or finding a solution so hybrid holders and ordinary shareholders can share common aspirations .