RE: 3p by Friday?28 Apr 2021 12:17
Lets remind ourselves of what Pete said at the last Finals regarding his outlook for 2020. I think wsg were at about 13p on May 11th so about 3 times the share price........
Notwithstanding the impact of COVID-19, trading for 2020 has started on a positive note, building on the success of 2019 with both order intake and revenues ahead of budget. Q1 delivered revenues of over £4.5m, an increase of more than 22% over the same period in 2019 (Q1 2019: £3.7m), and I am pleased to report we made a healthy profit in the quarter both before and after tax as we begin to benefit from new contracts and the investment we have been making in our business and we have a healthy order book going forward.
We are also fortunate in that much of our revenues are generated from long-term and recurring revenue^ contracts (we entered 2020 with visibility of over £8m of annual recurring revenue^ for the year from long term managed services, guarding and maintenance contracts ) and because of the nature of our long term contracts, where we have experienced reductions in such revenue streams during the COVID-19 disruption these are expected to resume quickly once the pandemic passes.
Over the next few months and years, we have an opportunity to achieve unprecedented growth from the prospects we are pursuing, and the Board and I remain committed to delivering on this potential.
unprecedented growth ....... healthy order book................. not sure I believe him.......... as none of it has turned up, wonder if we have a copy and paste .... no double digit growth though......... B