NEWSFLOW

NEWSFLOW

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AIM-listed Yu Group (YU.) released its half-year trading update for the six months to June 2022 yesterday morning. As ever, it made a good impression but does it mean good results are on the way, or will there be a hidden nasty?

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I have been bearish on AIM-listed Yu Group (YU.) almost since the dawn of time. Well, since the company ‘fessed up that it had effectively been making up its numbers and that there was a black hole in the accounts. So is it time to reconsider, in the light of yesterday’s apparently bullish AGM trading update? Not so fast…..

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It is always a Red Flag for me when a company posts a profit but is burning cash, and that brings me to yesterday’s full year results for 2021 from  AIM-listed Yu Group (YU.).

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AIM-listed Yu Group (YU.) has updated the market with a full year trading update for 2021, claiming a very strong performance for FY21, significantly ahead of market expectations….FY21 revenues, profitability….have all extensively exceeded management forecasts. So the coffers are burgeoning with cash, then? Er…..

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AIM-listed Yu Group (YU.) has posted its interims to June 30 this morning and claims a profit of £0.9 million – a good effort. Better still, the balance sheet shows that YU was technically solvent (just) at the period end. There are, however, a few observations to make on that! Call me a pedant if you wish.

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AIM-listed alternative energy supplier Yu Group (YU.) has updated the market this morning with a trading statement for the half-year to June. We are told of strong growth in bookings ad revenue with confidence in delivering profitable growth, but whilst cash balances are broadly flat (ie a little down) over the period there is again no discussion of net current assets. So is it just more of the same?

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AIM-listed Yu Group (YU.) had its AGM this week. All the resolutions were passed, as one might expect, but the company talked of being profitable in the second half of last year and continued momentum from FY20 as 2021 got off to a good start. But profit – as we all know – is a matter of opinion; cash – where Yu’s dangers lie – is a matter of fact.

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AIM-listed Yu Group (YU.) released its Full Year numbers for 2020 this morning which show continued cashburn, a horrible lack of balance sheet support and negative net current assets. As I had suspected, the trumpeted cashpile announced in the FY Trading Update was a mirage, with payables up and receivables down. The shares may have been on a tear recently, but the company is heading for a brick wall.