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Bull-Dog Sauce falls in red after takeover battle with Steel

Friday 16th May, 07:28 AM JST

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1 Comments

  • yabits at 06:32 AM JST - 17th May

    I believe there is an interesting story behind the numbers. The Bull-Dog sauce company is still profitable, although profits have fallen. This does not mean they are operating in the red.

    The fact that the company has incurred a charge in order to buy back shares from Steel Partners does not mean they are in the red. It just means that they have converted cash assets to securities. Unless the shares are worthless, the shares represent something of value. And therefore the company is still in the black.

    The questions go to the reasons the profits have fallen, beyond the reported facts that the costs of ingredients have increased. What Steel Partners saw was an underperforming company with the chance to increase sales and profits -- possibly from an increase of sales outside Japan. Now the world will never know if they could have succeeded at placing this excellent product on more tables throughout the world.

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