Phoenix from ashes14 Jun 2011 01:00
We've all seen them. Examples are cash strapped ASTO which regularly features in the top share risers and Uniq which had a massive pension deficit but is now trading at near 20 times its 52 week low. SCHEs losses are largely attributable to a write-off of goodwill (an intangible asset). Makes it attractive for a t/o? There's still a future in this IMO - evidenced by a big buy over ask price (6.39), ii's building stakes and everyone concerned working together to make the restructure a success. I'm a bit down on my original 7.5 entry but not planning on selling till the fat lady sings. That's my stance but dyor and take your own positions. (BTW 3000 redundancies sounds bleak until you look at the total no. of employees (44,000) and then realise that staff turnover was 21% anyway .....)