Sunday, 30 April 2017

Goodway: Path to recovery?

Goodway Integrated Industries announced its annual report. One snippet:

Path to recovery? You would not assume that, looking at the following extracts:

Please note that the left bar represents the latest (2016) numbers. In other words, the revenue numbers show a clear down trend.

More worrysome though are the profit numbers, which look pretty horrendous:

But that is not all, the accounts are qualified by the auditor, a very clear red flag:

Any mentioning of a "recovery" seems therefore rather premature.

1 comment:

  1. Wasn't Goodway involved in a aborted reverse take-over of an IT company?

    If the deal had gone through, what recourse would shareholders have against the directors?