Turn Around, page-18

Value Hunter / others
I can tell by the tone of many on this forum that little hope is held for siv however I have an alternative opinion which I have come to over the last few days, and have so decided to dip my toes in a bit deeper and purchase a few more, my reasoning as follows:

It looks like the company has written down more bad debts in the books than perhaps really required, (guess you can't blame them in being conservative about it, I mean its better to have one bad year tax wise) , It looks like to me that the write downs on the Silver Chef collectables are more than double what they usually are so maybe the company will still be able to collect on some of those bad debts which could make the next reporting period look much better.
Also the breach of lending ratio's was as reported "expected" and only (from what I can gather) happened because the company accountants wrote down so many debts, but also more than normal amounts of other stuff such as plant and equipment, it also looks to me like they are currently sitting on a very big cash surplus.
might explain why over recent months management and more recently Andrew Kemp have been buying
fp