Originally Posted by
Wizofoz
Remember,
VB was hemorrhaging before the AN collapse-
Was it? For for the seven-month trading period to 31 March 2001 they had a small operating profit of about half a million on lightish turnover. Their first year result looked bad because they elected to write-down the entire $10+ million in start-up costs in one hit rather than amortising it. They weren't shooting the lights out but I wouldn't say that they were haemorrhaging.