new lows on the way, page-9

bd

I shared your view up until a week or so ago. The lack of market update for months on the potential deals at appreciably higher values than the current SP made me rethink and scratch a bit more on the potential, with a down looking result.

Yes I hear and concur on the 200m rev figure but from the figures they have released i expect a zero profit would be a good result (after interest in the 100m debt figure).

My concern is the 'potential buyers' have gone away or are no longer willing to pay 'book' value or higher and most likely looking to pay appreciably lower than the price stg paid, leading to major writedowns then we start to get nervous about loan covenants and forced sales (a lot of that at the moment)

In short good luck but not for me atm too risky.