I am a bit confused help would be appreciated.4 Mar 2024 12:44
As far as i can see the reduction from 2.8 to 1.8 is a big improvement and they say it is likely to improve for this financial year. So thumbs up, as 2.8 is poor to say the least and 1.8 is still high reducing this next year will be a good thing and if they can get it less than 1 that would be great, but thats a guess on my part.
The revolving credit facility has been reduced by 20 million from 170 to 150 million, the facility was unused last financial year so i am guessing that the costs will have reduced by reducing the total available by 20 million.
Now the negative share reaction and the commentary on here could be that 1.8 is high and could be potentially dangerous, my view is that the reduction shows a major focus on getting the business into good shape of course i could be wrong.
I haven't bought any as i went out early and i see the SP is down and commentary on here is mixed.
I think this was good news as, if the company was having difficulty the ratio wouldn’t have improved by what seems like a lot, and they might have utilised some of the 170 million.
I am a little puzzled by such negative reactions so i think i must be missing something.
Gl to all