70p seems to be very support level for this share. It bounced back a few times from 70p. The key is to see whether this support will remain at 70p until the next trading update is provided by the board. If the 70p support fails then we are likely to see low 60s. That's my view!
ofcourse the rate of cash burn is unbelievable 50% in less than 6 months. But is there a reason for that drop? Is the reason good or bad? it would be good if they had used that money upfront for projects on which they get the payment after completion. Its bad if they spent that money on just wages and expenses with no returns
while i appreciate that ur below comment was true in the past 'busy fools with virtually no margin' it would be stupid for the directors to do the same again as they said whilst annuncing the results that they would be looking at profitable work rather than the share in the market. I hope this means they r only taking new business with more margin other they would be stupid