Forum Archive Index - March 2001

["Dave" <sausage@thenet.net.nz>]

The company forecasted that it was to undertake a number of takeovers during
the year to enable it to develop a regional presence. 22 in all of which it
has achieved in a coordinated way.

The cash outflow from operating activities comes largely from the increase
in accounts payable, but I have to wonder exactly what these are. I'm not so
sure that this is a long-term problem.

My only worry is the apparent lack of investment in the petroleum side which
still generates over half of their revenues. Maybe we'll see a divesture in
the near future.

Finally, isn't the large increase in intangibles directly related to the
takeover activity being undertaken and won't the relative importance of this
fall as the company stops making acquisitions and starts focusing on their
"core" business?

What do others think?

Cheers
Dave


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