Quote Originally Posted by winner69 View Post
Mentioning debt reduction today a bit odd ......but signals impairment on the way and the need to remain within convenants. Clear as.

The guys who sold Metro for $366m in 2007 were indeed fortunate and good on them.

Since then they gone broke and restructured and all sorts of things and in spite of that is operationally still a very sound and solid company. But one that is not really suited to being listed if greased up to be a growth company.
Agreed. One can't help but wonder why they bothered investing in Australia when its so clear management already has had its work well and truly cut out for them trying to get their existing Kiwi operations running smoothly and efficiently. I suspect we might see the day where they exit that investment. Mentioning demand might go soft in the medium term is softening shareholders up for the possibility that all their recent capital improvements might actually amount to a big fat "nothing" from a profit perspective.