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UTW Utilitywise

1.903
0.00 (0.00%)
28 Mar 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Utilitywise LSE:UTW London Ordinary Share GB00B6WVD707 ORD 0.1P
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.00 0.00% 1.903 1.806 2.00 - 0.00 00:00:00
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
0 0 N/A 0

Utilitywise Share Discussion Threads

Showing 3176 to 3194 of 3800 messages
Chat Pages: Latest  128  127  126  125  124  123  122  121  120  119  118  117  Older
DateSubjectAuthorDiscuss
09/8/2017
19:24
Large lumpy sells, wonder if seller cleared
tsmith2
09/8/2017
16:43
rescue placing required to fill hole in balance sheet
opodio
09/8/2017
16:16
Strongbuy is trying to talk the price down so that he can buy cheap. He is no shorter. IMHO.
freddie ferret
09/8/2017
15:41
Well, short the shares then.

I don't agree with you but best of luck with your investment.

As for this statement

"Ask UTW for the FULL END TO END recording of EVERY VERBAL CONTRACT that they have done to acquire their customer base, then ask them to prove that they can show tracked compliance on every piece of data from which they have acquired customers from "

Why don't you get real ?

Do you run a business, or do you live in Cuckoo land ?

Next you will be asking them to prove they washed their hands after going to the toilet .

bennywin
09/8/2017
14:19
Looking good....
ddubzy
07/8/2017
19:30
Very disappointed by recent events, but I think the company has a very strong management team in place now and is a bargain at these prices if you are prepared to hang it out for a year.
bennywin
07/8/2017
08:47
v v little volume
tsmith2
03/8/2017
10:54
At least the bounce has given those that want it a decent opportunity to get out. Didn't think it would recover like it has.
its the oxman
02/8/2017
13:00
Karadas09,

Some further clarification regarding the advances from the Edison note.

'At the same time the management team also made an important strategic decision regarding business practice, which resulted in accounting changes and, in turn, prior year adjustments to the level of net debt. In a significant move, UTW decided to discontinue the practice of taking cash advances from suppliers. Historically, these advances took two forms: advances against future commissions earned on the sale of contracts from that supplier, and quasi loans. As commissions were earned on sales, the level of the advance was correspondingly reduced. The second form of
advances, which were not dependent on commissions, took the form of loans, repayable at predefined times and levels. As at 31 July 2016, UTW’s cash advances totalled £10.4m. UTW decided those advances not related to commission sales, but that include cash repayments to the client that are not in UTW’s control, should be treated as debt and were therefore reclassified as such in the balance sheet. Further commission-related advances of £4.5m were scheduled to be repaid in
H217 and additional cash advances, totalling £9.2m, were not pursued in the period, ensuring that by year end UTW will no longer have any volume-related supplier advances on the balance sheet. These changes will have depressed cash flow in H217 and increased historical debt balances by c £20m. Prior to this announcement, we had been forecasting a net cash position of c £3m for FY17.

cockerhoop
02/8/2017
12:04
Haik about to start next upward swing
sparky333
02/8/2017
09:53
Current p/e 7. . This is under new conservative accounting policy Too low - 10x fairer
tsmith2
02/8/2017
07:59
Have added again. UTW have cleared up accounting act. Very conservative estimates. Brokers TP90-110. Looking for 85-90
tsmith2
02/8/2017
07:41
Yeah indeed I wish I had Lol.Think next day or so will be a pull bk and I might have to buy some then.
greco600
02/8/2017
07:39
Wow...Congrats to those that added or bought in the 30's....Doubler in 2days!
ddubzy
01/8/2017
20:09
Panmure Ups Utilitywise To Buy On New Accounting PolicySource: Alliance NewsPanmure Gordon & Co are positive concerning the recent changes in Utilitywise's accounting standards, which began on Tuesday, and upped their...
tsmith2
01/8/2017
14:14
Karadas09,

I don't have anything definitive, it's my interpretation of the Interim statement where they state money is being returned as the volumes were not of the level required by the terms of the advance.
They may be able to secure more attractive terms without the cash advances going forwards - I don't know.

These payments must have been booked through P/L. Yes approx £10m in 2016, £9.2m in H2 17 and the £4.5m repaid presumably from H117.

cockerhoop
01/8/2017
11:48
Karadas09,

Yesterdays restatement primarily effected customer renewals, so the revenue is not lost but is substantially deferred (by years in many cases). This has the effect of reducing historic revenue and profitability and also reducing accrued revenue and increasing order book (transfer of revenue from P/L to order book).

The upfront commission is a direct reduction in profitability as suppliers paid UTW for delivering a target number of customer to them. This potentially created a conflict of interest as UTW may have recruited customer to certain suppliers based on commission rather than what's best for the customer. (Potential mis-selling?). BF has removed this stating that it'll allow UTW to grow more quickly but in the short term it has to cope with the removal of this substantial revenue at the same time as deferring because of IFRS 15.

I think this loss of revenue is not yet appreciated by the market.

cockerhoop
01/8/2017
11:12
These announcements from UTW are hard to follow, and I agree with other posters that trying to understand if this company is actually going to be profitable or not is hard to decipher.

Overall it’s now obvious that the company has been overstating revenue for at least three years if not longer. The indicative restatement of revenues and profits published yesterday means that year’s profit would be reduced by half based on the new accounting standards. Taking into account the repayment of commission announced in June, it is hard to see UTW reporting any profit at all this year based on these statements, probably a loss.

But there is some indication of future profitability. Previous announcements have hinted that UTW has not been serving it’s customers well in the past by renewing them with certain set suppliers based on the incentive of UTW receiving upfront commission payments from those suppliers. Those practices seem to have been stopped. There are some clues in the Trading statement

“..the Group now anticipates that its revenue for the year ended 31 July 2017 will be £4.0 million to £4.5 million below previous management expectations. The revenue shortfall primarily comprises revenue from same supplier renewals contracts ("Renewals Contracts") which form a substantial proportion of the revenue secured by the Group in the final months of the financial year.”

Is this an actual shortfall in expected revenue or is simply because UTW customers are being moved to new suppliers rather than renewing with the same supplier as they have previously done? If so the revenue is not completely lost, just deferred to potentially be realised in a later period, as new contracts are recognised later. The further statement that “The Group expects to report gross order book additions in the year ended 31 July 2017 which are c. 18% higher than in the year to 31 July 2016” suggests that underlying customer growth is still happening if not yet recognised in the P&L.

I’m annoyed with myself for investing in the company, I think the warnings were there and others were wary of the aggressive accounting practices. A lesson learned. Luckily I only invested a relatively small amount and this is a tiny holding for me now, so happy to sit it out and see what happens.

karadas09
01/8/2017
11:06
O....Would that be Jeremy Middleton?
eipgam
Chat Pages: Latest  128  127  126  125  124  123  122  121  120  119  118  117  Older

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