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clock Created with Sketch. 16/02/17
18:20
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Originally posted by Krispytech
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I have re read the ANN and now i fully understand why the buying came in quickly. ANN is pretty good actually in terms of how the whole year is panning out. It is not the best that they expected but the things are working and going as per plan and improvements are there. Read it v v carefully and read the BOLD ONES V V CAREFULLY. ANN IS pretty GOOD ACTUALLY. The negotiations are ongoing and the Company expects that negotiations will be concluded in coming months. UK Operations Slater and Gordon’s UK business has shown signs of improvement, but recovery is slower than expected. Nevertheless, the Company expects its H1 FY17 UK normalised EBITDAW and cash from operations to be an improvement on the prior corresponding period .The Company is projecting stronger billed revenue results in H2 FY17 as it continues its UK performance transformation programme. Both the PIL and GL businesses are projecting stronger fee results in H2 FY17. Slater and Gordon expects that the first half revenue declines will be partly offset by a reduction in operating expenditure . 'A performance improvement programme is underway in Australia to address areas of underperformance . The Company will seek to ensure that the Australian business remains strong and continues to improve and grow over time. ash flow Group cash flow performance has continued to improve but remains a challenge. Net operating cash flow is expected to further improve from H2 FY16 (-$20.9m) but will remain a net cash outflow.
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You are the eternal optimist KY but there are sections not in bold which are really worrying and were unexpected. Further impairment of UK business, negative consumer sentiment in Oz, lower fees, slower turnaround etc etc. Does not make good reading now never mind next week...
