Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
London South East prides itself on its community spirit, and in order to keep the chat section problem free, we ask all members to follow these simple rules. In these rules, we refer to ourselves as "we", "us", "our". The user of the website is referred to as "you" and "your".
By posting on our share chat boards you are agreeing to the following:
The IP address of all posts is recorded to aid in enforcing these conditions. As a user you agree to any information you have entered being stored in a database. You agree that we have the right to remove, edit, move or close any topic or board at any time should we see fit. You agree that we have the right to remove any post without notice. You agree that we have the right to suspend your account without notice.
Please note some users may not behave properly and may post content that is misleading, untrue or offensive.
It is not possible for us to fully monitor all content all of the time but where we have actually received notice of any content that is potentially misleading, untrue, offensive, unlawful, infringes third party rights or is potentially in breach of these terms and conditions, then we will review such content, decide whether to remove it from this website and act accordingly.
Premium Members are members that have a premium subscription with London South East. You can subscribe here.
London South East does not endorse such members, and posts should not be construed as advice and represent the opinions of the authors, not those of London South East Ltd, or its affiliates.
This was just the last year, The Group is reporting a loss after tax of US$110.3 million for the year ended 31 December 2019 (2018: loss of US$8.5 million). The principal reasons for this significant loss are as follows:
And when has vog announced an after tax profit in the last 10 years?
Really, Jed?
Let's see your figures and calculations then regards: 'So with their current turnover there isn't enough left to pay down debt and cover running costs let alone make a real profit.'
Or is it just BS from you?
Look I have been trying to hold back my words but in the end I have to make a point.
What can one say about vog, they have always meant well, they put out their plans and took everyones money. But year after year all they have done has gone backwards with fewer and fewer paying customers and bigger and bigger losses. So with their current turnover there isn't enough left to pay down debt and cover running costs let alone make a real profit, so just how long will it be before they run out of money and need to raise even more at 2p, but they better be quick because before long the sp will be below 2p and that might mean a 1p plus another consolidation. God help us all.
Oh, and also the $9m refund from ENEO also - I expect this to be settled soon (fingers crossed, of course).
Watch the cashflow - this will tell you how the company is really doing.
Re It all depends on the quality of customer, 3CB - how much they consume, how much they pay, are they good payers.
You tell me Sparrow. Previous positive rns stories have told us they are all good quality paying customers.
Today's rns merely confirms what we all knew, in that there is a huge pile of potential and actual liabilities building in this company. And if only a few came to fruition, we would be finished.
It all depends on the quality of customer, 3CB - how much they consume, how much they pay, are they good payers.
Sparrow. It's very easy to cherry pick the tiny bits of "good" news. But you should balance it with some bad news . For example, number of customers standing still , even reducing , as we lose some as we gain new ones. I believe that's the first time vog has stated since the first customer took gas that it's quite normal to keep losing customers.
'...Good luck to the investors and I truly hope the new management can turn it around.'
Thanks, Najabat.
This RNS of 25th June is probably of more relevance:
Trading Update
Revenue
Gaz du Cameroun S.A. ("GDC") continues to safely produce and sell natural gas to over 30 customers in the Douala area. The Cameroon Government's easing of lockdown conditions and the usual seasonal swing have resulted in a recent increase in gas demand.
Unaudited revenue for calendar year 2019 was $20.6 million (2018: $10.8 million). Unaudited revenue to 31 May 2020 was $8.6 million (2019 for the same period: $8.7 million).
Cash and Cash Equivalents
Cash and cash equivalents at 31 May 2020 was $5.0 million (31 May 2019: $15.7 million).
Thanks, RF68.
The derampers don't seem to understand that this has been a recovery play since new management took over. 2019 legacy position was well known to anyone who has done some research.
Very simple, really (like me).
re "Key statement (for me):"
Is that "Key Statement" in a good way or a bad way?
You can't just highlight one paragraph and dismiss all the bad news just because, Kenny Rogers says it doesn't cover the post period.
There is lots in there which DOES cover the post period and it's all the same delaying bulcaca and potentially huge liabilities and can kicking.
Let's not forget that Kenny Rogers has, with others, presided very fully over the last few dreadful years so to just accept his meaningless jam tomorrow statement is just ridiculous wishful thinking.
You must now admit you got it wrong Sparrow
Yes, I suspect Roy wanted all possible bad news from before his time out in the open now - a) so he isn't blamed for it and b) so he gets credit if/when any one or more of the issues is later solved or ameliorated. They certainly do not seem to have held anything back with these impairments...
Maybe, Bookamdanno - there again, you may well miss out. Good enough bargain for me - will not be this low by end of October (even end of today?) imo.
Happysparrow- im sure if you had waited, you'll be able to get in nearer 2p soon. The only buyers on todays results, will be buying purely on blind hope, apart from yourself, obviously.
MM games. The current price is 2.35 - 2.89p
I added at 2.7p (early bird...)
Been in this company for over a decade.Seen share price crash and total mismanagement.Dogged by litigation.
Finally bit the bullet and sold out at 2.2p today just to reduce my stress levels.
Good luck to the investors and I truly hope the new management can turn it around.
Key statement (for me):
As this report covers a period of time that preceded Roy Kelly's appointment as CEO, I am going to personally refrain from detailing the future strategy of the Company. Roy is a CEO of the calibre that does not need an Executive Chairman. His appointment predicated my announcement to step down to a Non-Executive Chairman role after the publication of this Report and our General Meeting in October 2020. I am confident that under Roy's leadership, and with the addition of our new CFO, Rob Collins, the Company is in good hands and will be set in a new direction to ensure shareholder value. They themselves will communicate their plans in due course and will have my continued input and backing. In the coming weeks the Company will be releasing its Q3 20 Operational Update and the Interim Results to the end of June 2020.
There's usually at least a spoon of jam tomorrow in the results, hard to spot anything positive in those results.
oh dear are we playing out the end game?
are on the website.
interesting response on the Advfn BLVN board - 'all very odd and probably nowt' (Warbaby); 'something seems to be happening in the background' (Gark) - The Ferrostal article out of the blue (about something largely 7 years ago) is perhaps linked to the recent corporate action (share transfer) at Blvn [Warbaby - the key is in the last last line, ie total shares 335m but VOTING shares 323m with balance held in treasury. For example, a would be purchaser would need to buy 4m shares fewer and COC's %age share of voting shares rise.]
Probably just a coincidence; but intriguing nonetheless.
'...should we now be lowering our expectations to a near term rise nearer to 5p. Or in other words, less than 1p above the SP when this was mentioned....'
No.
A quick look at the charts show the next leg up is at 6/7p; then at 12/13p.
It is irrelevant what the price is today - that doesn't alter history.
What would lower those historic targets would be dilution.
But surely you know this 3CB? Just more trolling mischief?