RE: admittedly, not great...18 Apr 2019 22:44
late pre holiday RNS is a big deal for a loss making AIM company. Lots of the value is in the perception/quality of the management team and this makes them look s**t. Need Gibraltar ASAP.
Can someone with more more knowledge explain this
The 'gross profit' and revenue are up in the headline figures compared to the previous year.
However there is this breach of the loan covenant in section 21 which says earnings fell in 2018 compared with the previous year? Don't understand...
'The bank loan has a financial covenant that EBITDA is at least 80.00% of the EBITDA for the corresponding Relevant Period as set out in the Group Budget. A covenant on the bank loan was breached as at 31 December 2018, but the bank has waived this breach post year-end and reset the covenant.'