the future, page-6

I was expecting revenue to have been below 2B for the half year , the Gross margin to be sub 15% , and the management to stste they were negotiating with the banks on their covenants

To see revenues hold up in A terms , the gross margin despite all the ngatives to hold at 19% and to see debt extended to 2016 is better than I excpected

Not to sure about asset sales , just hope the proposed sales are not the ones with the greatest margins , and that the sales are actually closure of a country location .

I feel sorry for PXUPA holders who were looking for a short term fix, as the pay off on getting time to return to profit without debt repayment pressure is at the expense of the pXUPA holders income payments

Longer term they should benefit , but ST the pain is mostly in their hands and PPX holders are actually much better off

No wonder the PE holders have been swopping , they can kiss goodbye to their 9c offer , as the company now has a chance to recover , and get in to profit i the 2nd half of 2012 .

ST Buy in my opinion , as the Price camp might get more opposition than I originally thought if they can sell the profit expectation in the 2nd half