todays asx announcement-my view

sorry,but it looks like its going to be a long time until this stock finally turns around
the only hope in my opinion is that they bite the bullett finaally sell 'ah plant hire' to NHR

divestments forecast to be about 30m and thats about what ah plants worth

even after divestments BANK debt will still be about 115m by 30/6/05

mgmt seemed to have pinned all their hopes on the water saving and recycling division!

at the end of the day THE WATER DIVISION'S got to be backed up with revenue sales!!
and as we enter a period of higher interest rates and a pull back in consumer spending i believe its a risky propasition which may see the company entering into another workout agreement if the sales/revenue and npat do not meet expectations

as they say ...better value elsewhere!
personally i'd be backing the global brand name of caterpillar and having a look at www.nationalhire.com.au
asx code NHR egm is on 9/12/04 and taking comfort in the fact that many govt infrastructure projects are in the pipeline ready to go not mention the constant diy home rovations mkt work!!

and www.westrac.com.au(for more info)