Do you guys read the company's ASX releases? The reason for this decline is easily understood when you read their market update on May 19 2011:
http://www.asx.com.au/asxpdf/20110519/pdf/41yr8h30bhgzgw.pdf
The Purchasing Outlook section at the end clearly states they are encountering competitive pressuring on price and therefore their opportunity to acquire receivables may be cut by more than half, from $87M in current year to a low end figure of $40M for 2012.
That's a very significant reduction, so the market is factoring in potential shrinkage of the business from 2012 forward. I'm actually shocked that the selloff has been this tame.
Do you guys read the company's ASX releases? The reason for this...
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Last
$12.94 |
Change
-0.260(1.97%) |
Mkt cap ! $880.7M | |||
| Open | High | Low | Value | Volume |
| $12.77 | $13.07 | $12.74 | $3.285M | 255.5K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 843 | $12.90 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.00 | 843 | 1 |
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| Last trade - 16.15pm 23/06/2025 (20 minute delay) ? |
| CCP (ASX) Chart |