all tug and no pull. Adsteam has lost 30% of its main ports work to Whampoa's new company. It has lost a major contract in the UK. It's got 1% increase in profits for the last 12mths and decreased dividend.
Turnaround? What a lot of baloney. Not worth $1 I reckon.
A rubbish old style company talking the talk and doing nothing while tugboats give way to multi directional props and big boats like the Spirit of Tasmania don't use them and bigger container ships chop into traffic and from what I see don't use them much either.
Bought up by old fashioned fund managers but now no one can deny the depth of the problem.
I'm short and continue shorting.
ADZ
adsteam marine limited
