CNP 0.00% 4.0¢ cnpr group

valuation dates and book values, page-45

  1. 9,955 Posts.
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    "There is absolutely no necessity to provide a reconciliation b/w the Cash Flow from Operations and changes in working capital. This is part of the auditors working papers and most companies would not disclose."


    Every (serious) company provides a reconciliation between Net profit (not working capital as you state) and Cash flow from operations in their notes. Part of the reconciliation is the effect of changes in working capital. 100% routine.
    Not many companies do so at Half-Year, but CNP should have done so given the situation (after all they did supply a completely irrelevant and laughable reconciliation between Net Profit and Distributable Income)



    "The underlying business is incredibly strong"


    You have not provided a shred of evidence in support of that claim, which is incidentally at odds with the auditor's opinion and the mood of CNP's lenders.
    CNP has created zero value as a public company (it's actually destroyed value if they had done the decent thing and marked their CER investment to market)



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