Grasschoppa,
Looks quite good to me in the circumstances, improvement and most importantly in the latest half.
North America looks still a problem but with it's revenue contribution down to 22% and it's loss reduced any kind of pickup there could shine through.
Net debt down to $100mm, and with modest land sales and no divi it would not be hard to see that halved again within 12 months, at which stage it's pretty inconsequential.
The corner has turned, and bar for the Australian wheel falling off it looks to me that we should now be looking for an imminent positive upkick somewhere.
NZX punters liked it this morning. Were probably expecting more bad news.
EL
results on the way, page-6
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