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It was always going to hit them hard when they were Nominating incorrect usages to help get that quick cash. I hope the staff don't lose there jobs
Utilitywise sets out to save customers energy; their customers then make a saving in energy usage and UTW didn't expect it????
I think the quicker they morph into a service company the better.
steaming in is -- This company is defunct under a labour government??
RNS states 4.7M payment booked for this year, and rest to follow...confidence in management is rock bottom. Can't say we haven't been warned tho, I remember reading a poster on here ages ago who warned of issues about way income was accounted. Good time to buy if you think there is still a viable business model....
Cynical this as been known about since may looking at the share price ??!,!! So in my calculations we'll oversold now
threeputt , in out . looking for 60s now.
well done, but needs some trust rebuilt now I fear. Wonder if Woodford will buy even more, yet another of his recent poor picks
yep, but that drop was a bit excessive, im back in at 69p
not in but have been watching, that was my initial thought too that there could be contagion to other contracts, my guess is that they knew they were not providing enough for this in the accounts and they were hoping the customer wouldnt spot it early, been in a similar scenario in a previous job so have an idea how this works. The alternative is that they are being up front with the customer
I am not confident that this won't affect other contracts. How did they get this so wrong the BOD must be very worried. The price will plummet!
so that was the problem , under-consumption . wonder which way for the SP. I would think down.
Canncord to 225 !!?? Is it time to rebuy ??
Lack of belief in this company!! Was flying when it done a deal with Dell and Asda but deals like that seem to be few and far between. GLA
Ok so what's the reason it's been declining for so long?
& he apparently hasn't sold any??? I bet his figures look drastic !! 😅 I will be sitting tight like I have done on numerous occasions,but I must admit if the Jezza Stalin gets a chance,we will all be heading for the exits in a very panic stricken rush. Youth of today need to be educated in reality and the oldies need to see Brexit for what it is stupid. GLA we are all going to need it one feels
I see that John Ferris from UTW was speaking at this event today. I desperately hope that they listened to his opinions. www.policy-uk.com/event/2542/Re-energising_the_Retail_Energy_Market_-_Increasing_Switching__Emerging_Business_Models_and_Reshaping_the_Market
I dont think this lame duck government is going to do anything. Now if theres another election and labour gets in then thats a different story
The accounting issue has been around for a few months now so why the rather large drop today? Or are ppl getting frustrated and cutting their losses?
It's got to be mainly due to the risk of government intervention in our marketplace with the suggestion of fixing utility prices. Which will significantly impact our potential earnings as companies will likely all offer the same price. The maximum! So no need for our customers to use as as an agent. So until that clears the price I feel will continue to drop. If the interventions fails to materialise then this price is a huge buy. Alternatively those of us sitting on the share are likely to lose more. But that's the risk. I for one hope this rebounds significantly!
Have a look at a post by 'jaxonsax' on UTW board over on Interactive Investor....he puts forward a summary of their accounting practices, that may be at the root of this drop....
The persistent drop in the SP is a real worry, anyone have any thoughts on what on earth is going on and able to offer any hope of an increase?
I like the look of this and want to buy in. Just need to wait on the election results. If it goes the blue way i agree with you it should move northwards from here. GL
I have quite a large investment in this company, as it pays a good dividend and there is good growth potential. Like others, I am a bit dismayed at the consistent decline of the share price in the last few months and when it appears a company is in freefall, there is a temptation to get out while you can. It appears that the share price has bottomed out now and as long as Theresa has a good day today, I predict a good bounce back up to the 180's over the next six months. Fingers crossed
Anyone else having problems posting ? Some of mine don't appear and others vanish.