Interims (Half-Years)9 Nov 2015 17:07
At the very end of today's RNS :
"Trade Receivables, net of discounting provisions, amounted to INR 3,534 Mn as at 30 September 2015. Whilst the ageing profile of certain Trade Receivables has increased over the last six months, management are actively following up on collections. Out of this total, debtors representing INR 2,872 Mn have made reductions in their overall balance. The remaining debtors have indicated that they will start to make payments as per their agreed payment plan.
Customers have indicated both their agreement with the outstanding balances and their intention to settle in full. The delayed payment profile has been driven by the market and industry conditions globally.
Management are of the opinion that no bad debt provision is required as at 30 September 2015 as they are in active dialogue with all debtors and there is currently no indication that the balances will not be settled in full. This area will be kept under constant review and provisions will be booked when deemed necessary."
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Well similar story to last finals and previous half-year's results and we don't really seem to be making a huge hole in these 'receivables' yet which are now £35m (INR 3534m). However, no write-down needed and the company sounds confident payments are improving.
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Still awaiting the story to develop for the new 'concert party' or 'not concert party' and can't get Nomad Allenby to talk to me to discuss any clarification on this matter and whether the I-of-Man company rules have any bearing on matters.
RNS encouraged zero further trades ?!?