Looking OK to me27 Feb 2010 14:53
I have just reminded myself why I bought this share before at 18p.
2009 results will be out in April, but there is some information from interim from which will give an indication of what they are likely to be.
Revenue will be down from 2008, but is still likely to be circa £100m. Net debt will be up (11.7m 2008) so £20m will not be a surprise. They still paid an interim divi of 1.2p, a mistake IMO, but brave anyway.
So what will we likely see come April, Revenue down and net debt up, but still £100m of revenue which could be replicated in 2010. We all know that contracts will be difficult to find as UK PLC makes cutbacks, so this will reflect in the companies share price. But this is now oversold IMO, and well now worth buying / holding for eventual recovery.
If this was a Football club, it would be held up as one of the most financially sound in the premiership!!!!!