RE: Cash burn16 Mar 2021 18:08
We were told in the recent trade update that overall costs are reducing whilst at the same time margins and sales are increasing so what is the fascination with individual salaries and appointments?
"Total invoiced sales for the Group were £1,513,089 (2019: £744,833), an increase of 103% on the previous year. Administrative expenses (excluding non-cash items such as share based payments and amortisation) were £1,592,320 (2019: £2,204,216), a reduction of £530,350 (27.8%) on the previous year. As the Company scales its sales, it is starting to see an improvement in margins, increasing from 53% in 2019 to 58% in 2020. The Company is now in a strong position with increasing sales and improving margins complemented by a large reduction in costs, demonstrating the scalability of the business model."