Originally Posted by
Roberto the Brickie
Thanks for the data analysis Snoopy, it is really useful to people who are looking at these complex financial statements that seem to keep accountants employed, while making it difficult for the majority of the readers (assuming people bother reading the results of their investments).:)
Your Senior Debt Coverage Ratio is a little confusing to me as you have included my worrisome $17 million of cash of hand as a deduction. I appear to be the only person thinking this large cash balance is a problem and some people have even suggested it is normal. Looking at the previous 4 years of financial statements, PGW has never had such a large cash balance at either 30 June or 31 December so I keep assuming this is a result of poor cash management. Some commentators on here have said that is normal and are not as concerned as myself. If this is normal should it be taken as a deduction of your total senior debt?:confused: