Notice how it’s completely opaque on when revenue can legitimately be recognised though. Contract completion at 540, 600 and 390 days away are not even in this financial year. They say “lump sum” for the first contract but very obviously omit “upfront” and so there’s no authoritative indication of the likely cashflow impact. Let alone any real ability for us to estimate the profitability of all this work at this point given the very limited way in which this company reports everything.
I’ve been watching here for a long while, hoping to see evidence of a strategic pivot and further advances in LNG retrofits and alternative fuel source innovations. Progress there might see them as an attractive investment and/or acquisition target. Their location is good, but longer term business strategy needs a good shakeup imo, as it still looks very much like a family affair for which an Australian listing is about status yet its still treated as a somewhat minor annoyance to them.
ZGL Price at posting:
6.6¢ Sentiment: None Disclosure: Not Held
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