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I’ve just read it again. The company remains comfortable with£100m. That means they will have £100m cash in the year and £200m next year. It’s all about accounting how it will sit in the years.
I do think they need better PR writers. Reiteration that it will be £300m across the 2 years would be important
Hexam
£10 million of the Searose contract was paid immediately to start readying the dock. Not beyond imagination for the auditors to say that this is next years money.
For cash flow it doesn’t matter, they have the money, for audit it may sit in next years figures.
If you take the RNS at face value, it could be that the auditors want the pre-payment for the Sea Rose contract accounted in the year when the contract happens.
It clearly isn’t a problem to the company funders as it was in the Scilly Isles company bid a week ago
Article in The Telegraph
Britain’s biggest storage site has started releasing gas into the grid to keep up with the country’s heating needs during this week’s cold snap.
British Gas owner Centrica said the Rough storage site, 18 miles off the coast of Yorkshire, will help manage demand. It is the first time it has sent gas into the grid this winter.
The Met Office has issued yellow weather warnings from this afternoon to Wednesday morning, saying parts of northern and eastern Scotland, north-east England and Yorkshire could see snow and ice.
A vast majority of UK homes are heated by burning gas.
Centrica chief executive Chris O’Shea said: “Gas storage is vital to ensure the UK can manage demand effectively, keeping prices down, and Rough contributes more than 50pc of the UK’s total gas storage.”
Britain has limited gas storage sites compared with many of its European neighbours.
Love his statement. How can a company that has had $250 million of non-dilutive investment be worth anything less than $250m
Reading the financial report it’s a very sound company.
I think JW has a gripe they gave the ship order to Malaysia. Not sure what we know about running ferries, but Austal seem to build boats for this market. Maybe after that we go after the Scottish islands as well
This is the answer I got on Perplexity ( a new AI search engine app my son put me onto- it’s like having Stokey on your phone!!)
According to the latest financial report submitted on 2022-03-31, the company had a turnover of £17 million and a gross profit of £1 million, the net worth of the company is listed as £14,345,952.00
.The company has also secured private funding to introduce new ferries between Cornwall and the Isles of Scilly
AJBell have issued the shares today. I’m 63% down, yay!!
I think today’s fall was driven by Evil Banksta on the blog shared earlier. Very negative, failed to mention grants, UKEF and the fact that most of the cost is one off for the set up of FSS.
It’s such a well read blog, that you can imagine every market maker had a copy this morning , and traded it accordingly. Hopefully someone will post a rebuttal tomorrow
We’ve also got a million of VAT to come back at some point
Think you’re slightly underplaying this! He bought 5.7% of the company!!