Ericsson wrote:Ebenyo wrote:VituVingiSana wrote:Ericsson wrote:https://mobile.twitter.com/tradingroomke/status/1309381890613313537/photo/1
FY ending June 2020 results
Awful. Blaming the usual suspect.
At least it's a profit.Though a big drop from 500m to 66m.Better than a loss
If you compare the half year results and Full year, second half the company made a loss.
If you project to H1 2020/2021 it is going to be a loss
Yes, 1H 2020-2021 looks dire but they have managed to keep debt under check. There is an increase in current liabilities offset with current assets. I am waiting for the annual report but that increase in CA looks like inventory funded by supplier debt.
The problem with Balance Sheets is they are snapshots taken at specific days. The situation could change within a month once the raw materials are milled and out the door.
Unga needs to reduce operational expenses during this pandemic or it will continue to struggle.
Greedy when others are fearful. Very fearful when others are greedy - to paraphrase Warren Buffett