RE: sp fall5 Mar 2017 18:08
If I agreed with you Kiwi, then I reckon we'd both be wrong. I wouldn't risk a punt at more than 15p which given their appalling record of converting sales into profits gives me a chance of making some money. At that price their tangible net asset value is about equal to their market cap, and their price to sales ratio is more like their industry peers of .93 . Their only chance is to be taken over and get some new management in. The institutions would go for that I'm sure as at the moment it's just being run for those with their noses in the trough. I hope I'm wrong but I won't join this happy band of brothers at anything like the 27p I was quoted for 50000, 30 for 80000. Plenty around.