Pearls20 Nov 2018 13:21
So why are they going to be dire,
They made a loss in the last 6 months due to write downs etc.
They have made plans to improve things.
They have raised money to reduce debt.
so after tax loss of £205.8 million (2017: £0.5 million loss(3)) reflecting £226.8 million of exceptional costs of principally non-cash exceptional charges for goodwill, intangible and tangible asset impairments (H1 2017: Operational progress:
The Group has made significant progress in building back industry expertise and staffing levels in its Sales and Lettings and Financial Services businesses. The register of properties is up 3% year on year at 30 June 2018 and the pipeline has improved by £12.7 million since 31 December 2017 compared with £11.5 million in the same period last year. The Group has also completed the reduction of central functions headcount by a third, which has funded the build back of staff in Sales and Lettings£2.7 million).Â
OUTLOOK
The Group has made significant progress in building back industry expertise and staffing levels in Sales and Lettings and in building back the register of properties and pipeline of agreed sales. The Group expects to make continued operational progress in the second half of the year, which, combined with the traditionally stronger second half in our B2B and Financial Services operating segments, means the Group expects the full year to be in line with the Board's expectations
On 2 August 2018, the Company announced details of a proposed Firm Placing and Placing and Open Offer (the "Issue") to raise gross proceeds of £140 million, approximately £111.4 million by way of a Firm Placing of 1,114,419,568 Firm Placing Shares and approximately £28.6 million by way of a Placing and Open Offer of 285,580,431 Open Offer Shares, in each case at an Issue Price of 10 pence per New Ordinary Share.
Feb Numbers could be much better.!!!!!!