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Tern – Disastrous And Grossly Misleading FY23 Numbers: this company is BUST!

By Nigel Somerville | Thursday 30 May 2024

Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.

AIM-listed jam-next-century investment firm Tern plc (TERN) released its FY23 numbers this morning. In my view all concerned should be ashamed – not only because the stated NAV per share has been hammered by over 50% over the year, but because even the stated ner assets per share figure of 3.2p is grossly misleading – my back of a fag-packet suggests it should be 2.7p (and I don’t even believe that).
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