Talk about information overload!
These accounts do not have a clear comparison year on year on a like for like basis to give us any indication of what the actual performance is vs last year other than EBIT & Liquidations.
Quite frankly I have no idea currently how to assess my investment in PNC based on these numbers without a forward guidance & a like for like comparison.
Can anyone more technical shed a light?
From the commentary
' The Directors believe that, as at the date of signing the financial statements, there are reasonable grounds to believe that the Group will be able to achieve a restructuring of its debt and/or recapitalisation through an equity raising or realisation of value by way of sale of some of the assets so that it will have sufficient funds to repay the Senior Financing Facility and the Notes, interest and creditors and to meet the long term funding needs of the business.'
If we have a recapitalization or partial sale of assets to restructure the company then there's going to be a huge hit to shareholders at least in the short term. It doesn't sound like a full takeover is even on the table.
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- Ann: FY19 Annual Report (with App 4E)
Ann: FY19 Annual Report (with App 4E), page-2
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