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PVO, PROVENCO GROUP LIMITED |
 Posted: Aug 3 2009, 01:42 PM
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 Posts: 911 Thanks: 53  |
In Reply To: Lizard's post @ Jun 26 2008, 02:01 PM ... certainly has been a bargepole job! Now in receivership. Sad to see it go. Always hoped there might have been a turnaround story in it one day - plenty of revenue, but the margins and capital structure looked unhealthier with every report and left too late for any radical turnaround measures to succeed. |
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Posted: Feb 3 2009, 10:00 AM
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  Posts: 4,290 Thanks: 206 |
Company:
PROVENCO GROUP LIMITED Code: PVO Website http://www.provenco.com/ |
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Posted: Jun 26 2008, 02:01 PM
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Posts: 911 Thanks: 53 |
Today's announcement, under the guise of updating shareholders on the considerable progress made in merging CTL and PVO should be taken as a profit downgrade and balance sheet alert! High debt, negative NPV, difficult conditions and possible asset sales, combined with a "previously advised" capital raising in 2009... looking rather like a bargepole job...
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