Originally Posted by
asdf1234
ive been pointing out for a few years now that the selling of the family silver cannot go on forever and that operational profits are needed .however this announcement is more bad news - "we don't have any operational profits to distribute so we will tighten our belts and eke out the remaining family silver". One can only assume the FR deal will take longer to generate profits than expected .
What they've been doing, up to now, has been downright irresponsible. Paying dividends out of asset sales rather than profits in order to artificially boost the share price, when they should have been re-investing in the business.
Since they've been claiming that the dividend will be supported by earnings by (correct me if I'm wrong) 2020, then reading between the lines profitability has been pushed back.