sparkly wrote:No. 1 profitability for KK is finance/ borrowing costs!
The borrowing costs will drop significantly in 1H 2015.
- Lower debt [sale of properties, repayments from cashflows]
- Lower interest rates [as KK's financial condition improves, banks are more generous]
- Lower working capital needs as KK can buy the same volume at 60% of the cost thanks to $60 oil
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett