Something is going on. Recent gains do not make sense especially given Bauer (major customer) recently announced a shut down of titles. Their last HY report (well porior COVID) had both auditors and directors flagging issues around the businesses ability to continue as a going concern;
Page 9 notes However, if the Group is unable to achieve a successful combination of outcomes in relation to the actions set out above, a material uncertainty would exist that may cast significant doubt on the Group’s ability to continue as a going concern and therefore it may be unable to realise its assets and extinguish its liabilities in the ordinary course of business and at amounts different to those stated in the half-year financial report.
Deloitte statement page 28 These conditions, along with other matters as set forth in Note 1, indicate the existence of a material uncertainty which may cast significant doubt about the ability of the consolidated entity to continue as a going concern.
If it was on the ropes pre COVID which no doubt has smashed the publication industry I don't understand how it could be in a better position now.....
Await more news with interest!
OVT Price at posting:
3.0¢ Sentiment: None Disclosure: Not Held
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