Member Info for sparky333

Could well be but I do not want to be to over optimistic .

120M is a huge turnover !!!

Great to see they have axed the previous Auditor ( KPMG) and cash has increased significantly to nearly 15M

revenue for 2019 already 85M so should easily top 100M.

very positive update and the current SP should not be at this level 10M MC really !!!

It is going to be an explosive day tomorrow or the day after.

Place your bets as a lot of money to be made or lost. I am in for a 4 bagger and the news will state turnover expected to be around £100m and it is anticipated a profitable 2019 but at the lower end of expectation due to the accounting changes and recognition of debt debts.

Also will this statement still apply

The Board are confident that the Group will achieve profitability for the year ending 31 December 2019, albeit at a lower margin than previous expectations, and is in the process of preparing detailed budgets.

Indeed.

personally I think all the bad new is out on the street and YU will build from here , key points to note as follows :-

As a consequence of the corrections to the position at 30 September 2018, and based on new financial analysis, the Board has reassessed the Group's underlying profitability based on the contracts it has secured. As a result of this reassessment, the margins achieved across the contract book are significantly below the level which was previously expected. The Board note:



· the gross margin now being recognised on existing contracts is leading to a greater dilution of the gross margin achieved across the contract book than previously anticipated;

· in view of the contracted nature of the Group's activities, such business will continue to dilute the gross margin percentage achievable in 2019 and, to a lesser extent, 2020; and

· a reassessment of the Group's growth strategy, in the context of the wider competitive environment and market conditions, is ongoing, with a renewed focus on the underlying profitability of new business.

my main focus is on what 2019 is anticipated to look like following the new accounting practices for booking revenue and bad debt provision, what is the BOD prediction for 2019 year end ?

Just to answer your question

the update was and I quote end of Jan 19, so being the proactive chap I am just contacted Investor relations and they have confirmed, as previously stated they plan to release the trading update by the end of Jan 19

therefore the next 48hours.

so in plain English 0700hrs tomorrow or Thursday at 0700hrs

so place those bet or sell your share ASAP as one way or the other we are about to get a better picture presented.

Also post the trading update I fully expect some big director buys which will also provide two things

1. Confidence going forward we are not a busted flush
2. a few 50K buys and we all know what a bit of buying odes to the SP

a sniff of positive news from YU. and the herd will arrive and boom this will double treble or even quadruple in days.

People do not invest anymore they speculate , have no patience and do not invest on fundamentals.

I for one would not want to be short in YU as it could cost you a fortune the risk to down I=side are limited due to no debt and cash balance, but the upside is huge.

if someone right now wanted 100K shares it would send the SP up 30% and the herd would spot it and compound the rise and then boom up 50,60,70%

Tick tock to trading update.

Certain II's have to certain criteria when the market cap goes below a certain level, simple as that.

I am sure the doomsters will argue differently but worth noting they are all still on-board but reduced holdings, which I personally think is due to Market cap rules.

Miton Asset Management 1,322,027 8.13% haven't sold any as of the 24th Dec 19

You need to be very careful with those accusations. That is slander my friend.

You have just claimed it was criminal intent , rather than poor accountancy methods and wtf was the auditor doing signing them off or are you implying KPMG was in on it as well.

Your post has been passed on to the relevant people

Yep end of the month

If they generate a lot of FCF all good.

Wrong CAKE was rotten to core they took out 2 bank loans without the BOD even knowing see below from the FT.

Also thousands of fake receivables made.

s a footnote, there is one other aspect of the accounts which might have prompted alarm in some quarters. We now know that Pat Val had used up £9.7m on two separate bank credit lines without the board’s knowledge. (The debts were first reported by the Sunday Times

I reckon that's why we are down today, no other reason

A sell being worked

If 30k of buys came in quick and fast like yesterday.

.

Should pile in post update as can’t at present.

As they are in a closed period, no directors can buy, interesting to see what happens post the update, if they pile in that speaks volumes the business is undervalued and they are confident.

I think the market has over reacted, do not get me wrong they have fudged the books, the key is now can they maintain gaining new business and make a decent profit margin ? If they can and will this will fly, if not hope for a management buyout or another company puts in an offer.

Bad debts on SMEs will not be like retail so in the right space to thrive and also all thebrexit stuff doesn’t matter so much as everyone needs utilities no matter what.