I don't know,but I doubt it.
With a NZ building boom, and ChCh rebuild, they should have made hay while the sun was shining,but didn't.
Alan Clarke who is to become Chairman does have a good record.
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Half decent purchase by a director. Can't be all bad....
http://nzx-prod-s7fsd7f98s.s3-websit...158/275798.pdf
Buys another lot bringing total bought to over $150k... showing some faith?
http://nzx-prod-s7fsd7f98s.s3-websit...332/275999.pdf
Was quite surprised with the result today. Faith
The good thing for me is they have reduced inventory and in doing so paid off debt.
The bit that I have question marks over is why is the $35m or so debt a current debt and they have been paying off non-current debt. Would it not be better to relinquish some short term debt and worry about the long term stuff later?
Is short term debt not more expensive that long term debt?
Non current or term debt will flip to being called current debt when there is less than 1 year left on the fixed term. It will still carry agreed interest rates until it flips to floating. At some stage another slice of debt will be fixed for a multi-year term and term debt volumes go up again, with a corresponding drop in current debt.