Bristows Q1 2018 result
Thread Starter
Bristows Q1 2018 result
A lazy $50M loss even after selling a second hand AWSAR S92 for $40M!
http://ir.bristowgroup.com/mobile.view?c=91226&v=203&d=1&id=2291831
http://ir.bristowgroup.com/mobile.view?c=91226&v=203&d=1&id=2291831
Thread Starter
I know Wikipedia is almost as reliable as the famed Meg (old time Sun reader here) but fiscally, years are usually defined as the year they end..
https://en.m.wikipedia.org/wiki/Fiscal_year
Last edited by NumptyAussie; 8th Aug 2017 at 12:04.
Not your bog standard self loading freight machine.
Factor in the winches x2 ,flir turret ,trakka beam and euronav 7 mission console mucho dinereo
Also virtually brand new bought by captain america and his cronies for a contract they didn't win.
At least they didn't blame Brexit in this report.
Factor in the winches x2 ,flir turret ,trakka beam and euronav 7 mission console mucho dinereo
Also virtually brand new bought by captain america and his cronies for a contract they didn't win.
At least they didn't blame Brexit in this report.
Deeply concerning that they are burning so much cash so quickly, and yet the traditional methods of raising liquidity must be closing off. Captain America must have a Plan B........
But they do mention:
....and an unfavorable impact from changes in foreign currency exchange rates compared to the June 2016 quarter of $18.8 million, which related mostly to the depreciation in the British pound sterling. .....
Which is in principle also due to Brexit.
Cheers SLB
....and an unfavorable impact from changes in foreign currency exchange rates compared to the June 2016 quarter of $18.8 million, which related mostly to the depreciation in the British pound sterling. .....
Which is in principle also due to Brexit.
Cheers SLB
Nigerian In Law
Became very top heavy after the take over. So many "senior managers" and meetings for meetings sake. Their contractual corporate charges must be huge; no wonder they can't compete anymore. Shame, they used to be a great company.
NEO
NEO
Off on a bit of a tangent here, but there is some merit in the thought of oil companies owning their own helicopters and helicopter maintenance capability, and running the whole show privately. Like the Esso model. It has to be cheaper than paying contractors to do the job, with all those contractor overheads of top heavy senior managers and meetings for meetings sake, and maintaining the higher standard of "for hire" regulatory compliance, and shareholders expecting dividends from profits etc etc. Safety statistics are also likely in favour of this approach.
Nigerian In Law
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Not quite everything.
The operation in Trinidad has 6 AW139's and 1 S92 on contract and that base is far from "haemorrhaging cash".
In fact, excluding the SAR contract, Trinidad is probably by far the most profitable contract that Bristow have and the revenue from there is anything but small.
The operation in Trinidad has 6 AW139's and 1 S92 on contract and that base is far from "haemorrhaging cash".
In fact, excluding the SAR contract, Trinidad is probably by far the most profitable contract that Bristow have and the revenue from there is anything but small.
"...a decrease in revenue in Trinidad and a decrease in revenue in Brazil"
$1.2M loss in the Americas. Revenue down 236%.
Remembering of course, this is for 3 months, not a year.
Financially heading towards the drain and still introducing unbelievable levels of corporate crap that are simply not required. All while paying eye watering severance payments to directors and yearly retentions to those they want to keep.
LZ
LZ
Nigerian In Law
Such a shame; after 25 years with Bristow (during which I was treated badly by one opinionated Manager then extremely well by another in my time of need; there is another thread on here about that), it is truly sad to watch this decline after the sell outs and multiple rapes/asset strippings, all because the people in Houston can't adjust and only seem to want to preserve their own positions.
Classic short sighted self interest.
NEO
Classic short sighted self interest.
NEO