RE: Disappointing30 Jun 2022 14:39
JJ,
Mostly fair points I can’t argue with but I would say ABDX financials ‘keeping lights on’ are not as bad as you make out.
In 2020 they made an operating profit of £3.3 million.
In 2021 it was a loss of £6.7 million. It was in this year the £8.9 million should have been paid. So if this was paid on time they would have made a profit (£2.2 million) that year also.
Yes, we know they had a terrible last 6 months of last year and the first few months of this year will not be great reading either, but they are still hardly a company haemorrhaging money. Like most companies they have had a bad period but on average over the past two years they have been doing ok in financial term.
I agree, they need to prove they can make a good test and manufacture it in numbers and that is what will bring the market confidence back.
Said it before, on the outskirts didn’t make or sell many tests during a pandemic, not a good look! However, small firm being asked by the government to make a test on the promise they may get a £75 million contract for it. Of course! they would go for that. They made a good test it’s just the government realised later they had asked them to make the wrong type of test.
Avacta test, made to spec would have been great and sold in high numbers if we still had Delta as the dominant variant. Literally days before ready to be sold in millions Omicron come along.
Vatic, clearly made to spec and TT successfully as its been accepted by them.
These guys are good at making tests and doing TT’s but just not found that one (bad luck) that has sold in numbers yet!.. agree proof is in the pudding and this is what is needed and I’m sure will come.
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