RE: Bake.io1 Jul 2025 20:38
Lloyd welcome back.
Whilst I'm expecting strong results I'm not sure how Semnet will be treated from an accountancy perspective.
We aren't full owners, so I don't think we can claim the revenue in our accounts, normally we would just show a dividend or an increase in asset value
The £36m contract I think included a lot of hardware , which we probably only made a small margin on, and will be multiyear. So , although it will look impressive, there may be a big cost line associated with the revenue and we will likely only see one years net figure.