RBA AT A LOSS

Finweek English Edition - - INVESTMENT -

In a neg­a­tive up­date for em­bat­tled share­hold­ers, RBA an­nounced an ex­pected loss for the six months end­ing June, and this af­ter the re­cent rights is­sue at 8c/share. The rea­son for the loss is ap­par­ently “a re­sult of low pro­duc­tion vol­umes with only three ma­jor projects be­ing un­der con­struc­tion dur­ing the pe­riod”. We’ll wait for the re­sults that are ex­pected at the end of Septem­ber, but the turn­around here is tak­ing a long time. Ad­mit­tedly, turn­arounds are al­ways drawn out, and that’s why I al­ways pre­fer to back the win­ners who are gain­ing ground as com­peti­tors try and turn around.

SACOIL FU­TURE IN THE HANDS OF ITS SHARE­HOLD­ERS

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