There was the quiet acquisition of Nuvo. Cash flow was already tight at the FY16, as many commented at the time - they were essentially paying the declared dividend with borrowings when there was already barely enough cash flow to pay existing interest as it was. They then quietly acquired Nuvo during the last half which was further indication that they were not managing their debt levels prudently. Always watch the cash flow.
SPO Price at posting:
77.5¢ Sentiment: None Disclosure: Not Held
