Quote:
The cash position went from +2.4B at the half year to +3B now
If you have the time can you please explain how that has happened and what exactly it means? I have no accounting experience whatsoever and struggle a bit with this sort of announcement. That said, I think I understand the write down that has occurred.
Correct me if I am wrong, as I am merely an ngineer, but this "cash position" is a carefully worded term to describe their cash at hand. This is not necessarily cash they have in the bank, but a total of their own cash plus readily available credit ( for example - undrawn loans).