Originally Posted by
No-More-Bullschit
It's not uncommon for Beafer to get something very wrong
Absolutely agree on this one. Not that the accounts don't reflect the company as a basket case they do !
Very briefly, then the company have not been able to do anything to stem the horrendous £2.5 M loss in 2015, 7% rise in turnover more than offset by 10% rise in costs, though net profit further hammered by the £0.5M impairment (write off) of fixed assets.
The resulting £3m loss is to a large extent financed by inter company support, and to a lesser extent other trade creditors.
Only other point worth making is ref. fixed assets, then NBV remains same after the impairment & depreciation charges due to the £1M spend on various airport assets.
So in summary then no sign that ongoing investment is not simply being p****d away with no obvious way of aborting what is a hemorrhage of cash.
So the perennial question, why is it still trading?, & the answer has to be, as it always has been, the "off balance sheet" value of the whole asset, coupled with political pressure which prevents a more direct approach in it's realization by simply "closing the doors!".
The company itself refers in it's strategic report as to how it intends to address the deficit, and it is to "
promote utilization of the wider airport site", but then it is discussion around this point that has kept this thread active for years........
