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  1. #111
    Legend
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    Quote Originally Posted by percy View Post
    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.......

  2. #112
    percy
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    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.

  3. #113
    Speedy Az winner69's Avatar
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    Ran the old Altman Z solvency test over Wastco

    Score 0.72 ….probability of financial embarrassment is very high
    ”When investors are euphoric, they are incapable of recognising euphoria itself “

  4. #114
    Legend
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    Quote Originally Posted by percy View Post
    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.

  5. #115
    Speedy Az winner69's Avatar
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    WCO share price down to 3.8 cents again

    Doesn’t seem to be any end in sight of the decline

    Maybe they financially embarrassed
    ”When investors are euphoric, they are incapable of recognising euphoria itself “

  6. #116
    Guru
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    Quote Originally Posted by winner69 View Post
    WCO share price down to 3.8 cents again

    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.

  7. #117
    Advanced Member Entrep's Avatar
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    They said they plan more acquisitions. Plus with the mounting debt, no end to cap raises in sight

  8. #118
    Guru Rawz's Avatar
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    Quote Originally Posted by Entrep View Post
    They said they plan more acquisitions. Plus with the mounting debt, no end to cap raises in sight
    I think you are right. This roll up strategy of small ‘mum and dad’ businesses is not good. Often these small businesses are only profitable because the owner is running it day to day and it’s at max efficiency.

    When the small business merges into the corporate it naturally loses all the efficiencies and often some strong built up customer or key employee relationships.

    Im not sure if this is happening but if the owners of the acquired businesses are getting shares as part of the sale, it will result in continuous sell side pressure. I’ve seen this with DGL and RPM on the ASX.

    I would be interested when they get to a sufficient size so that they stop the acquisitions and shift to organic growth. But until that day I’ll watch from the sidelines

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