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Article: LR Index leisure stockwatch October 2008.(Sharewatch)
- Article from:
- Leisure Report
- Article date:
- November 1, 2008
CopyrightCOPYRIGHT 2008 William Reed Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Well there's clearly not much to cheer about this month, as the ongoing global financial crisis continues to wreak havoc on the UK leisure sector, which seems more and more unfair, given the positive numbers emerging on trading updates and interim management statements.
It's a sad but true fact that listed companies are subject to the vagaries of the markets, irregardless of their own performance--as one analyst recently remarked to me--"A stock exchange listing is really just another form of debt financing, when you look at it, and pretty much all debt is bad debt at the moment."
It's easy to see why debt plays such a huge role in determining the ...