Shine Halves Guidance, page-35

guidance for EBITDAW for 2016 was $205m, this guidance was subsequently abandoned. SGH only owned SGS for 5 days in FY2015! They actually made (or claimed to make more accurately) $67m of EBITDAW in 2015. That's less than a third of what you said!

"S+G is not like Dick Smith which was badly managed and over valued its inventory. "

SGH's inventory is its WIP - SHJ have just had their inventory cut by 20%. That's really quite like DSH. As for the management - they spaffed $1.3bn on a company that was loss making, had cash outflows and was the subject of a Serious Fraud Office investigation - I reckon that's pretty poor management.