RE: Nine 2 five29 Nov 2013 22:33
New to this share, as always attracted to sudden drops, and hopefully quick recoveries.....
I agree with your post, it looks like someone has over inflated contract wins/turnover reported, presumably to get a bigger bonus/retain their job/look better in an internal league table, happens all the time I am sure and in bigger businesses would just be dealt with internally but here is big enough relative to EBITDA figures to stick out a bit.
Knocked a bit of confidence somewhat and restating the accounts may not show the fractional growth reported at 6 months.
I'm tempted, as this will be investigated/blow over and the Construction market is picking up so...... Hang in and tough it out, may join you Monday :)
No one has run off with any cash (apart from an enhanced bonus maybe)