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[sharechat] SKC & Debt

From:	"Philip Robinson" <pcr@ihug.co.nz>
Date:	Tue, 2 Oct 2001 18:24:24 +1200

Title: Message

All my previous comments stand about SKC, but I just noticed something that alarmed me. The amount of debt that they are carrying:

Capital Notes 160m

LT Debt 384m

ST Debt 89m

Total 633m

With equity of 232 million

Interest Bill in the last year was 46m, compared to a profit of 68.3m.

Something to think about, could their earnings be used to pay down a little debt instead of such a high dividend yield, they are still in growth mode, but I think I would be starting to worry about this a little.

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