| From managements' perspective, ungeared companies become potentially more vulnerable to predators. |
| In addition, its ungeared balance sheet means it is well placed to fund an expansion programme without recourse to shareholders for further capital. |
| The progress in the past three years from a highly leveraged group to one that is almost ungeared has been achieved largely by the disposal of assets. |
| Thus, Henry's numeric analysis of taxes paid by property investors assumes that rental property is held ungeared and then sold after seven years. |
| For example, GE Money might be a huge money machine but it uses the parent company's ungeared industrial assets to grow its business. |
| The company's dividend has been restored and its ungeared balance sheet can comfortably support the investment needed to rebuild the brand and drive continued recovery. |
