sunday inside business program, page-12

The question i ask myself is: How 'visible' are MAH earnings? They have a poor trk record stretching back 5 yrs re not reaching EPS targets, signing contracts that lost money etc. It may well be that the rest of MAH's contracts are profitable.... but the nature-of-the-beast means it's very hard to have a high degree of confidence. I don't plan to buy MAH, but newbies might wait for a major cleanout from new CEO who can face AGM with a script that says 'we have double-checked and revised everything... and the forecast EPS for Fy13 IS...'. New CEO's have a 3 month period when any nasties exposed can be blamed on predecessor and they often conduct a springclean of the accounts. Hence, one strategy would be to wait for new chief to announce the revised EPS for FY13 b4 deciding what action to take.