MICE GROUP SOON TO BE A QUARTER BILLION POUND COMPANY

I am in a quandry on this one, it cetainly is cheap, and if it can reduce the debt then it is a buy, however I still have my doubts.

That debt moutain has been growing over a period of time, how exactly does the company intend to reduce it ? Also a quick review of the last full year results show that there is still £8 million in earnouts to pay out (in cash). This is effectively debt. Plus other earn outs are £2 mill in shares.

I think the debt is too high to trade out. In my mind, this means that either it sells a division or there is a debt for equity. Either way not good.

But it still is really cheap.....