ERG 0.00% 3.6¢ eneco refresh ltd

Reports next Monday Sep 2

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    ERG - A most hated stock ( specially if you had bought at $5.00 ) reports its 2 nd half and full year next Monday.

    The company wrote the buggery out of almost all JV valuations as well as much of its R&D . Since its had a win with the Vic transit deal, and last week announced in a pretty matter of fact way that it would be making interest payments on schedule to the pref holders.

    According to the market this company has little future......according to the MD they have about 2 bill of projects in the pipeline. According to my understanding they should be booking approx 130 mill of revenue ( gross ) for the 2 nd half . Depending on what they decide to write down etc this should result on a small profit/loss for the period ( as opposed to a big loss for the 1 st half )

    How much could it cost to run a 1000 employee organisation with 5 or six offices around the globe ?

    Dont expect any miracles , and be sure the MD hasn't taken a pay cut , but this could be one of the "tech wreck" turnaround stories of the decade .

    Don't bet your house on it , or the wifes holiday and next years wardrobe ......but it could be worth reading the report closely.

    If sentiment changes here .........get ready to jump on.
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