Tentative signs of rocket firing, page-280

Bergo

I agree - I think they will grind on - derive material net cash from NIHL - streamline - cut a bit -
sidestep some business - help persuade the UK parliament that it cannot attack TORT and rights won over the centuries, and materially reduce debt over the next 18 months .... and it will then be manifestly clear that SGH has affordable reducing debt and ongoing material profitability.

SGH could have got there quicker and been smaller - but has chosen not to. It may have to get to some debt reduction by financial engineering and a modicum of dilution. In the end it will be clear that it is
a victim of short termism ( and a some overgearing) . Redde plc which went through the mill is now fixed and prospering- but it didn't happen overnight.

It would be nice to put the offshore shorting brigade on a boat and sink it .

mel