Fleetwood: stumbling but standing

Persistent losses from the RV business mask strong cash flow from the manufacturing business. The case for an asset sale is slowly building.

Fleetwood confirmed it would report a loss when it reveals half year results in a few months. The decline isn’t because utilisation of the Searipple mining village has dramatically deteriorated, nor is it because losses from the RV business blew out. Instead, a contract dispute and Queensland’s fast settlement rules mean an undisclosed sum has been paid by Fleetwood and the loss will be recognised through the accounts.

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