date:Aug 24, 2012
t of the disposals, he added.
Precarious position
But doubts about the firm's giant debt burden continued tocauseconcern.Post the transaction, we forecast that net debt/EBITDA[earnings before interest, tax, depreciationand amortisation]will fall from 5.45x to 4.93x in FY[financial year]2012. But they will rise from 4.78x to 4.99x in FY 2013. As such, we believe the business remains in a precarious position.
Premier boss Michael Clarke said: This divestment is a major step forward in our strat