The Oz side should continue to produce profit but it only now amounts to around 25% of the overall business.
The U.K. biz needs to produce profit as it now amounts to around 75% of activity.
As we know there are significant challenges in the UK. NIHL has to date been an huge black hole swallowing up critical working capital and produced absolutely nothing to date.
SGS which is most of the Quindell PDC is made up of low margin claims and the bullseye target of the planned UK reforms. So, I think that part of the business is still a problem.
SGL which deals with general law and other more serious personal injury should be better.
But remember a lot of do called "one-off" costs will be incurred because of restructure, redundancies and office closures.
SGH Price at posting:
31.5¢ Sentiment: Hold Disclosure: Held
