Thursday, 21 April 2011

Gunns, FT and cash flow problems

Questions about Gunns'  and Forestry Tasmania's cash flow problems abound Charles(#9)asks

1. Forestry Tasmania FT has an increasing overdue credit portfolio, which has risen steadily over the years to $40 million?

Comment: This is essentially correct. FT’s trade receivables at 30th June 2010 were $38.5 million, after writing off $1.2 million worth of bad debts for the year. $6 million were GMO JV receivables, the balance related to its own receivables.

Tuesday, 5 April 2011

Flanagan L'Estrange exchange

It was pleasing to see Greg L’Estrange put pen to paper by replying (HERE) to Richard Flanagan (HERE) rather than rely on the bland response of his media department. It does enable a reader to pick up nuances that are otherwise lost.

It was a tad arrogant however to suggest as Greg did that Richard has a simple view of the world. A different view perhaps?