Yu Share Discussion Threads

[sparky333] 19/5/2021 11:20

Going to be very interesting Seagull, has the momentum from Q4 20 carried through, following AJ bell I think the answer is yes, if so ahead of expections ?

[sparky333] 19/5/2021 11:18

This was last years AGM StatementYü Group PLC (AIM; YU.), the independent supplier of gas, electricity and water to the UK business sector, today provides the following update ahead of its AGM which is being held at t he head office of the Group, CPK House, 2 Horizon Place, Nottingham Business Park, Mellors Way, Nottingham, NG8 6PY today at 11.30 am. Prior to the Annual General Meeting the Chairman, Mr Robin Paynter Bryant, makes the following statement:"At the start of the year Yü Group was in an excellent position and poised to implement very ambitious growth plans. Our strengthened Board, key additions to our operational management team to achieve best in class systems and processes were, and remain, in place to ensure long term profitable growth.Covid-19 has, of course, had a very direct impact on all businesses, including our segmentally varied customers, across the UK. Our planned rates of accelerated organic growth have been adjusted to reflect the current, temporary, situation. The skill, maturity and speed with which our industry-seasoned and professional senior management team has modelled, stress-tested and put in place effective mitigative action plans has ensured that we are on the front-foot in efficiently monitoring and managing the risk elements posed to the business.Our balance sheet remains strong with GBP13.0m net cash at the end of April, plus a further GBP4.8m in prepaid cash collateral. The cash position has increased by GBP10.6m from 31 December 2019, supported by close control over working capital and the structured commodity hedging facility with SmartestEnergy (Marubeni Group) which we announced in December 2019 and which frees up cash to support our future growth. We are also working closely with our customers and providing practical advice and support when needed.Customers' energy usage has been far lower than the previous pre COVID forecast for April 2020 as a result of the lockdown, with a fall in demand of approximately 35% which has reduced revenues and gross margin accordingly.Our cash collection performance for the four months ended 30 April 2020 has continued the positive trend from FY 2019, despite the issues faced. Cash collected is 98% of the value of invoices raised, generating only a relatively modest increase in our customer receivables balance which is aligned to normal operating parameters. Despite this positive performance to date, the Board and Executive Management Team will continue to remain focused on the potential for increase of customer receivables, and bad debt and expected credit losses, as the Covid-19 pandemic continues to impact the UK economy. The Board looks to ensure an appropriate balance between supporting customers in these difficult times with the protection of the Group's own balance sheet.The Group has taken the difficult decision to furlough some colleagues during these testing times, has suspended certain discretionary operational expenses, and deferred payment of GBP1.1m (at 30 April 2020) of VAT and PAYE liabilities by utilising HMRC's Covid-19 payment relief schemes.The seamless and speedy deployment of our business continuity plan has ensured that our outstanding customer service levels have been maintained. Our Trustpilot ratings remain one of the best in the industry at 4.5 stars and we have maintained our three-ring pick up policy.We continue to see the results from the work done in 2019 to redesign our sales organisation, and the introduction of new systems and processes to achieve higher margin contracts with lower risk. We continue to add to our strong forward contract book, with Average Monthly Bookings of GBP5.7m in the four months to 30 April 2020 (H1 2019: GBP3.2m; H2 2019: GBP5.3m) despite the impact of Covid-19 which temporarily reduced the level of enquires in the early stages of lockdown. We have launched new products specifically designed to support businesses through these difficult times which are performing well. Whilst more emphasis is being placed on customer segmentation risks due to Covid-19, and acknowledging customers consumption may continue to be lower than the amount booked as a result of lockdown, the level of bookings made highlights that the market opportunity remains.I would like to sincerely thank all of our employees for their Herculean efforts. The Board is confident that once we have weathered the Covid-19 storm, the long-term outlook for the Group remains highly positive."As previously announced, the responses to questions submitted for the Board prior to the AGM at [e-mail] will be published on the Company's website as soon as practical after the AGM.The Board will provide a further update to its trading, in the ordinary course, in its July trading update covering the period to 30 June 2020.For an audio presentation given by the Chairman and CEO please click the following link: https://yugroupplc.com/investors/agm-investor-presentation/

[sparky333] 19/5/2021 11:17

Hi seagull,They will provide an AGM statement as a minimum this will cover how the first 5 months of 2021 has gone but not in Granular detail like a half year or full year results.Last year they also provided a video and answered all the submitted questions I expect the same will happen next week.

[seagull222] 19/5/2021 11:10

Will there definitely be a trading update next week and does anyone know what period it will cover? They were forecasting turnover of £120m in the presentation so, be interesting to see if that forecast has been increased now as the upscale of the business model should be coming thro.

Link to the investor presentation in April

[...]


Seagull

[sparky333] 18/5/2021 08:53

No sellers and no buyers , are we in the eye of the storm,News next week on how the first 5 months has gone, very excited

[sparky333] 17/5/2021 16:23

Really would touch that scam for all the tea in China

[sparky333] 17/5/2021 12:54

Volume good today lol

[sparky333] 17/5/2021 10:32

Lol stupid IPhone Doesn't

[tradertrev] 17/5/2021 08:39

Does or Doesn't??

[sparky333] 17/5/2021 07:55

Also full steam ahead on lockdown easing today, the wheels of industry will be racing along. Consuming huge amounts of energy. Let's hope this Indian variant does cause issues going forward.

[sparky333] 17/5/2021 07:53

Not long now to the 27th AGM.

[arsey] 14/5/2021 19:55

Added another 10k of shares over the week. Lovely bit of consolidation going on. This is what happens with Yu. Get quite long periods of not much happening and then off it will go again. Market Cap still way too low. I'm very comfortable with the pattern that's emerging and on agm update can see the next leg up coming. If not then it will be later this year or early next. I'm not bothered as when it comes and it will,it will be by a large %. Made a huge profit on TERN but that's on froth, momentum and basic supply and demand. Not on fundamentals, so think I've been very lucky there. Yu is solid and I'd be very surprised if we weren't sitting at £5 by end of January 2022. I will settle for that. 100% from here with very minimal risk. RC.

[sparky333] 13/5/2021 17:31

Also April was a record month for customers switching away from large energy suppliers to small and medium-sized retailers, new figures from Electralink show. It also represented a 29 per cent increase in switching compared to the same month last year, when the country was in the grip of the pandemic.

[sparky333] 13/5/2021 17:24

The market and investors are so blind as to what is going on roll on two weeks today as that will set the tone for the rest of the year.

[iamhappy1] 13/5/2021 16:58

Agreed Sparks - from FT article below:

221,000 UK companies incorporated in the third quarter of 2020 being the highest figure of the past decade, with the first three months of 2021 in second place, when there were more than 211,000 incorporations. The trend has continued into the second quarter. According to weekly data published by the Office for National Statistics, the number of business incorporations in April was up 20 per cent compared with the same month in 2019.

[sparky333] 13/5/2021 13:37

Indeed all the hints are there 2021 is YUs explosive year.

[iamhappy1] 13/5/2021 13:24

YU Trust Pilot - Will take they are experiencing a high volume of calls as a big plus

[sparky333] 13/5/2021 07:59

Interesting reading an article yesterday on stocks that do well in high inflation environments banks being a key one but interesting that utility companies also do extremely well in high inflation periods.Hmm

[sparky333] 12/5/2021 16:20

Sellers must dry up soon

[sparky333] 12/5/2021 12:04

Nice and what does that mean ? UK PLC is roaring and needs energy to drive the economic engines.Who provides solely business erm YU group

[iamhappy1] 12/5/2021 11:50

UK Economy Rebounds Strongly in March

[divine1] 12/5/2021 10:05

Not many at 280 should be in the 3's this week markets will start to pay attention with no debt and profitable

[sparky333] 11/5/2021 12:25

UK economy is going to be on fire for the next couple of quarters until it settles down. Amazing the market is not picking up in this on Utility stocks.Stocks like Ted Baker, super dry and a whole raft of hospitality stocks are multi bagged in recent weeks yet utilities ignored.Does take rocket science to work out the engines are burning and require fuel. Doh !!Roll on AGM statement these information voids do not help YU.