What to expect for H1, page-5

Less than 7 days to go now, how many different angles and analogies can be mooted to keep SGH in HC's most-discussed?

On the excellent mountain theme, I would guess shareholders hoping for management to deliver them news that looks like this:


- full write downs needed on UK (biting the bullet, including on Reforms) and as needed Aust (per SHJ/E&Y)
- lenders' firm support clearly stated based on confidence business's cash generation
- H1 within 10-15% guidance, and can say have definitely become cash positive in Jan and forecast thereafter
- no CR on horizon, rule out the idea because not needed


Whereas market still expecting from management more of this:



- hard decisions on write downs not taken, put off until later / next results
- conditional only lender support and some weasel words about debt
- poor H1 but with promise things "coming good" in H2 but no or not enough definite evidence to be convincing
- nothing said, but inevitable speculation about CR continuing/escalating