BPT getting a hammering...
Looking firmly like what should have been a GREEN day for BPT...
Has quickly become a RED day for BPT...
It was nice to see the business update did not talk about "Letting Staff Go"
That said though this little chestnut : "Materialreduction in growth activities in FY21. To this end, it expects to reduce growth investment in FY21 by up to30% relative to prior planning" often means the same thing.
On another note... Are sales ever truly expected...
The other thing I like is this one.. "More than 97% of forecast East Coast gas sales in FY20/21 is expected to be sold under term contract,with less than 25% of these volumes oil-linked" Expected to be sold... But has not been sold... If a client does not want the gas what position does that leave BPT in ? ie.. They may have a contract but if the client does not order.. What happens then ?
Still have a long way to go with the effects of this Coronavirus thingy I suspect..
GLTAH, DYOR and HTFO
Ann: Business Update, page-7
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