LCL reported its earnings today.
What's more worrying is when we compare the balance sheet as posted in the earlier posting LCL Hit By Arabtec Claims!, LCL's balance got even weaker.
Cash balances is now only 16.4mil and receivables has increased to 270.501 million. (Given the massive issues in Dubai housing market, should one discount this issue? Perhaps a chunk of these receivables might be doubtful? ) (Compare the previous balance sheet table shown here: here )
And loans had increased too!
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