George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
Share News suggesting a further trading update on 9th April but we've only just had one, however their update of 8th Jan said "The next scheduled update to the market will be the FY24 pre-close update on 9 April 2024."
I presume no further update ?
No idea why the lack of comments here but this has been a fab share for me, only wish I'd averaged up on what in hindsight was a no brainer from my initial buy just under 40, and I'd never been so certain in advance the recent results would be good, I initially bought double what I would normally and that's worked well
Anyway sold now with a lovely bagger, good luck for anybody staying the course
And that update said
"Outlook
Without accounting for additional works crystalising from Kinovo's pipeline as the Group enters its peak trading season, revenues for the year ending 31 March 2024 for continuing operations are expected to be approximately £65 million (FY23: £62.7 million), reflecting a different revenue mix of projects contracted to date, with electrical services continuing to perform strongly. Adjusted EBITDA is expected to be significantly ahead of last year (FY23: £5.5 million) and not less than £6.2 million, being in line with management expectations. This demonstrates the Board's continued confidence in the strength and resilience of the continuing business and its significant growth potential. Cash balances will reflect the aforementioned costs incurred and the outcome of any potential recoveries from the DCB projects, supplemented by cash generation from the continuing business."
Just as well its one of my long termers, I feel the main business will do well but oh these legacy contracts. Still, almost done & dusted now. " recovery of costs incurred as a result of works that have not been performed to a reasonable standard". Poor British workmanship ? surely not !
It's not great in terms of skulduggery and has put me off investing here for the moment, not that far out though ? "Taking account of the customary transaction adjustments, cash consideration for the Disposal is expected to be £20 million"