
NEWSFLOW
RA International (#RAI) – CFO Andrew Bolter to resign, recruitment process to commence
- 2023-03-06 07:50:53
Previously writing on remote site services provider RA International Group (RAI), in February with the shares down to 29p I noted ‘stalled order book momentum’. Er, isn’t it somewhat worse than that?, concluding to still avoid / sell. Now full-year results and more...and the shares further down to 22p.
Remote site services group RA International (RAI) has announced full-year revenue “in line with management expectations” and that “the underlying business has remained profitable through this disruption and our solid balance sheet supports our forward looking requirements”. So what of a current share price response to 29p, more than 23% lower?...
Previously writing on remote site services provider RA International Group (RAI), in March I noted the shares more than 15% lower towards 40p on the back of a warning from Mozambique. The subsequent results statement included that “confidence needs to be tempered for the current financial year given the prevailing external conditions with the situation in Mozambique uncertain and, more generally, COVID-19”. And today... “Long Term Incentive Plan and Grant of Awards”!
Remote site services provider RA International (RAI) has made an “Update on events in Cabo Delgado, Mozambique”-titled announcement... and the shares are currently more than 15% lower in response, towards 40p. So what’s the situation?...
Previously writing on services provision to remote locations (primarily in Africa)-focused RA International (RAI), in June as the shares were heading back above 50p I questioned has the year-to-date really then been “encouraging”?... I also suggest a greater reliance on delivery of contracts in half of a year - particularly for “remote locations in Africa and the Middle East” - creates the platform for a potential profit warning. The company has since noted “profitability broadly in line with expectations” and now a “COVID-19 update” – and the shares now 32.5p…
“RA International Group PLC (AIM: RAI), a leading provider of services to remote locations in Africa and the Middle East, is pleased to announce it has been awarded a Government contract with a value up to USD 9 million” and “the year-to-date has been encouraging”. Sounds good…