You don't say1 Sep 2023 15:11
So 1st 4 months (Apr to Jul) were ahead of prior year and then in Aug they fell off a cliff and the ‘executive team’ announces it ‘is taking immediate and decisive steps’. Should I be reassured? Well, firstly I’d say the measures they cite would, in most boardrooms, constitute nothing more than good everyday practice, not things you only do under duress! But then, as long-term AXS holders will know, management here has been pretty consistently shocking, often asleep at the wheel: How did the grand international roll-out of licences go? How much did the subsequent unsuccessful court cases cost? Why did Accoya supply remain so constricted for so long? And then there is the eye-wateringly expensive Hull debacle. And now this.
Poor management has always stood between AXS and success. I was hopeful that post-Clegg things might improve but really, there is no sign yet. Expect more fundraisings/dilutions.
It is a shame as Accoya is a very good product and environmentally quite sound. That I am still a holder is truly a triumph of hope over experience.