Selling31 Jan 2018 18:57
A cursory look at the half year explains today's drop I think. Two bear points stand out. One is net assets of �945,000 while the balance sheet shows a good will value of over a million. Unless cash flow increases soon or there's some additional refinancing that's not good. Write down the goodwill and PPG is bust. Secondly there's been a �230,000 increase in admin costs of which only �160,000 is explained by the P/L hit for the new share options scheme. The other �70,000 hit was said to be costs associated with last year's bond issue. But there's no detail on that.
So where does that leave us? Me, I'm buying potential and have been for two years now, but some delivery would be nice.