Barloworld dont look in too good of a position, here is an extract from their financial reports. No company can sustain making that type of loss for too long.
Barloworld Handling, reporting on its UK results in 2007, said that the year showed continued focus on the key business segments following the restructure that had taken place in the prior year. Yet its pre-tax loss on ordinary activities was GBP6.4 million (USD9.61million), (2006 loss was GBP4.5 million or USD6.76 million), although some GBP4.1 million (USD6.1 million) of that was increased funding for its deficit on the defined benefit pension scheme, where the net pension liability stood at GBP42.3 million (usd63.5 million). This brings the accumulated, pre-tax losses for 2004-2007 to around GBP15.7 million (USD23.5 million). No dividends were paid for 2006 and 2007. Turnover rose from GBP123 million (USD184 million) in 2006 to GBP133.8 million (USD201 million) last year while negative working capital climbed GBP1.5 million (USD2.25 million) to GBP13 million (USD19.5 million) and bank overdrafts soared from GBP15.8 million (USD 23.7million) to GBP22.7 million (USD34.1 million). Stocks also rose worryingly by around 50% to GBP13.2million (USD19.8 million).
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