Page 38 - Stakis A Case Study
P. 38
£99 million to £151 million in the year to September 1990
with the result that gearing was at 66 per cent.
In March 1991, Andros said in response to a question on
why the City analysts had not given them (the Company)
much support:
"analysts agree on the long term but they are concerned
about short term results.... they are wary of change and
under constant pressure to achieve short-term results.
They want us to return a meaningful
contribution....Currently recession was a
problem - interest rates and inability to dispose of assets
created problems."
He further said:
"The city doesn't like companies developing. They like to
concentrate on trading profit. And I agree with them."
