Complete lack of financial understanding this morning!17 Sep 2020 09:22
It is worrying that many of the investors in shares (not just NOVA this morning but all over the place) have little or no understanding of the financial reports and management accounts that are released and how to interpret them.
As quite a few people have pointed out this morning, there is little new news in this RNS, it is simply confirmation of the earlier trading statement, but it does contain many reassuring points on the investment that the business has made in continuing to make the most of COVID related opportunities (inventory, recruitment etc.) as well as in areas unrelated so that growth can continue (M & A, research, collaborations etc.).
As to the comment about being 'disappointed there is only £19m in cash', did you bother to read further than the headlines to the increase in inventory of £15m? (and a load of other clues as to where investment has been made for both the short and longer terms). Sitting on too much cash is poor management, it needs to work!
Anyway, rant over. I'm a happy bunny this morning as this company has a clear strategy for sustaining growth and has used the (relatively) short opportunity presented by COVID to turn into something substantial with a future. GLA but for some of you, please read a book on interpreting accounts!