Invinity Energy Systems – “Project Delivery Update”, what’s the likely financial impact?
On the ‘no one watching o’clock’ day of 30th December Invinity Energy Systems (IES) issued a “Project Delivery Update” which helped the shares up 13.5% to 43p as it included that the company “now anticipate revenues in 2023 significantly ahead of its previous expectations” and that “the prospects for our battery systems have never been more positive”. However, I concluded that it was also a trading warning for its year ending 31st December 2022 and asked how bad was the cash burn in the second half of the year then?. There are now some broker “estimates revised” and the shares are currently slipping back.
- By Steve Moore
- 2023-01-03 16:15:48