Short Term Trading Week Starting: 29 Aug, page-262

Hi @KDoc - re SRF. I think anyone who has been following the saga would have known that the annual report was going to be bad. I last bought SRF one year ago when it had a good report and the market approved.
Times have certainly changed. I have been watching for a few weeks, tempted to buy when it went sub-20 cents, but wanted to wait for any potential unknown bad news in the report.
Two main things I was looking for in the report: what sort of impairments would be listed and what language would the CEO use. I was impressed by both.
I bought a small parcel today at 11.5, with a view to a MT/LT hold - 12 months or longer. Am looking to buy more over time depending on what happens.
This isn't DSH mark 2 (which was a case of clever venture capitalists destroying a company and making a fortune). I think it's a case of a company which grew very quickly beyond the competency of the founders. Nothing necessarily evil or unusual in that.
I reckon SRF can recover but it will take time, some reassuring news and some encouraging numbers. My punt is that the new CEO is competent, the business has no debt, is a market leader in its category, and the plan outlined in the report makes sense to me. Not sure about a short term bounce but I'm happy to wait and see what happens.