RE: Austal9 Nov 2023 21:54
Well BP he's doing a remarkably good job at it looking at at two contracts over 70 million in the last couple of weeks , one repeat business under his tenure, the other repeat for the yard.
It's an MOU and I'm pretty certain he'd be forced to withdraw his statements if unfounded.
Done a good job of pulling the wool over the MOD too, who are watching proceedings closely, even down to staffing levels as per Hansard. As ever time will tell but I reckon he will pull off the funding and Navantia are hand holding throughout FSS .
At some stage if he pulls it off you have to look forwards.
I think he is performing at an incredible work rate, very few would be capable of.
Of course I fully appreciate that right now we are technically insolvent, but with the ever increasing forward pipeline I'm not remotely concerned unless he fails to secure funding.
The SeaRose contract required a pre tendering questionnaire to be completed. This prerequisite looked at cashflows, as obviously any delays would be extremely costly.
I'm sure it was a little more detailed then many would have us believe.
Furthermore there have been numerous mid career hires and North of that in recent months , they too would have established the longevity of the companies ability to trade.
I most definitely would and without doubt would have requested sight of the UKEF report. Hopefully we haven't employed morons , the vast majority appear to be fairly astute , looking at their CV's.
So if he pulls off this funding BP will you sing a happier tune?
As for reporting selling a trading pot, not quite board etiquette and a bit disappointed at such tactics, but it is what it is.