Business Services Industry
ARL rejects damning report.
Australasian Business Intelligence, August, 2006
Byline: Bruce Atkinson
Aug 07, 2006 (Food Week - ABIX via COMTEX) -- Australian Retail Logistix (ARL) has dismissed a JP Morgan report questioning its financial standing. The report has cast doubts over the wholesaler's viability, after it posted net losses of $A500,000 in 2003-04 and $A400,000 in 2004-05. It also questioned ARL's ability to repay its debt to Woolworths, stating that ARL's debt to net equity ratio had slid from 88.2% in 2003-04 to 91.7% in 2004-05. ARL GM Leigh Carlson has insisted that the company will meet all its financial obligations for 2005-06, and also expects to post a profit this year.
Publication Date: 4 August 2006
AUSTRALIAN RETAIL LOGISTIX LIMITED
WOOLWORTHS LIMITED - ASX WOW
JP MORGAN AUSTRALIA...
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