Quote:
Originally Posted by
simla
Well, with luck BLT just bottomed. Talk of cost control is a very encouraging development if you ask me.
And they did say, " We continue to see in market year on year customer sales grow across our major markets in Europe and the USA."
Sales going up, costs going down = Bliss? :) Time will tell.
Must be time for you to leap back into BLT again Simla! Always enjoyed your comments in the past - and good to see you're still following the company's fortunes - such as they are!
BLT say sales are increasing - but only mention Europe and the USA. Maybe - but what's happening in other markets - like Asia? Clearly nothing is happening there - other than go backwards. The lack of comment about that region is worrying because just a few years ago China seemed to be where the gold was to be mined but there's not even a hint about that in the latest announcement.
The revenue achieved for the year ended 31 March 2016 was $5.6 million - and the original forecast for the 2017 year was for $8 million. We all know that didn't happen. Now the FY18 revenue forecast is "in excess of $5 million" - 2 years have gone by and no sales growth at all!
The (unaudited) profit for the last quarter is miniscule. If the EBITDA result was $200k, you can bet your boots the "small net profit" will disappear very quickly if the auditors find BLT has missed accounting for the staff tea and coffee expenses for December.
These results are incredibly disappointing when the company is headed by an ex-Fonterra man who has been in the role for two years and was supposed to bring sales and marketing skills to the business. There's no evidence at all of any progress being made on his watch, other than inflated sales claims that were quickly proved to be pure BS. And now this:
" During the 3rd quarter the company has taken further measures to control its' cost base focusing resources on growth generating initiatives."
One has to wonder what the hell Brian Watson and his team were focusing resources on for the previous 18 months! (And to make that announcement even worse - there's no apostrophe required on "its".)
Time to shape up or ship out? Elementary, my dear Watson.
DISCL: Have been a shareholder since 2005 and hold millions of shares. I'm currently at break even and have been waiting patiently for the big day to arrive. I think the time to bail out is very close - or at least to reduce my exposure.