FCL futuris corporation limited

Profit warning - one off, or sign of problems?

  1. 17 Posts.
    Futuris have taken a big hit today, after warning that their insurance business will be hit with a $24million write down.

    It seems that $11million of this is a 'timing' adjustment, to flow into the next year, and that $13 million is a write-off associated with bad business.

    Is this a good time to buy into the bad sentiment, or is it a sign of more problems to come? Has the board decided to clean the slate while the price is down - leading to a much improved FY2003?
 
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