RE: KMPG27 Oct 2018 16:58
They also need to beef up their debt recovery department from now on or consider selling debts at an early stage to a debt buying agency which is surely better than writing off good money.
So hopefully Bobby will get stuck in a bit more than he maybe wasn't before and turn this around -
Bobby Kalar, Chief Executive Officer, commented:
"As founder and majority shareholder, nobody is more disappointed in this development than me. Our booked revenue from new sales remains strong and contracted revenue for 2019 is already £67 million as at the end of September 2018. We have improved internal controls around working capital management and the Board is absolutely focused on restoring the profitability of the business."