With a very low equity ratio of just 24.22% and current liabilities nearly twice current assets,I think this company will struggle.
I posted sometime ago I went past their Blenheim Road depot and noted at how much heavy equipment was sitting idle during the day.
Thought to myself the interest costs on fully used equipment would be high.
However this was only a fraction of idle equipment,with the bulk of it at their Haydons Road yard.
Another cap raise on the cards Percy??
The only vehicles I've seen of theirs down this way has been nice shiny new ones.......
A lot of [I think Ford Ranger] flash utes,and their equipment is well presented,however it needs to be in use earning,not sitting idle in their yards.
Ford Rangers don't earn money, or earn as much as a Mitsubishi Triton.
Neither does equipment sitting idle in their yard.
Often it is that anecdotal/on the ground info that is often pretty telling - not the announcements or annual reports spruced up by PR gurus or marketing spinsters.
Doesn’t seem to be any end in sight of the decline
Maybe they financially embarrassed
DITTO but now .034, what the muck is going on there after the fish heads speel at the EGM I thought they had a future but sadly does not look like it atm, another back doorer hasnt lived up to its hype.
Originally Posted by percy
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