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Share Name Share Symbol Market Type Share ISIN Share Description
YU Group LSE:YU. London Ordinary Share GB00BYQDPD80 ORD GBP0.005
  Price Change % Change Share Price Shares Traded Last Trade
  -2.50p -3.12% 77.50p 242,697 14:57:13
Bid Price Offer Price High Price Low Price Open Price
75.00p 80.00p 85.00p 77.50p 80.00p
Industry Sector Turnover (m) Profit (m) EPS - Basic PE Ratio Market Cap (m)
Electricity 46.96 2.24 13.00 6.0 12.6

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Date Time Title Posts
15/1/201913:58Yu Group PLC - Business Energy Supplier1,413
21/9/201618:27New Gas and Electricity Supplier19

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YU Group Daily Update: YU Group is listed in the Electricity sector of the London Stock Exchange with ticker YU.. The last closing price for YU Group was 80p.
YU Group has a 4 week average price of 42.50p and a 12 week average price of 42.50p.
The 1 year high share price is 1,425p while the 1 year low share price is currently 42.50p.
There are currently 16,267,555 shares in issue and the average daily traded volume is 235,403 shares. The market capitalisation of YU Group is £12,607,355.13.
mam fach: Wonder how much share price can recover from here.
mam fach: Any substantial buying will lift share price back to £2. Would think that few holders have bought below £1. So few shares in free float. When buying starts it will be NT. Then price will rocket.IMHO.
zen12: Share price telling a different story!
1me me: This is exactly what I am thinking. "As for shares in Yu, it seems that a bailout placing will be needed to get through the next audit. In this market, with a market cap of £10 million and possibly with no net current assets, what do you think the effect of the share price will be?Exactly!"
kaka47: ShareProphets RNS Translation Service: Yu Group 'fesses up (again) as shares collapse another 22%By Nigel Somerville, the Deputy Sheriff of AIM | Thursday 20 December 2018If you like this, please share this article using the buttons below Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.And so at last we have the results of the forensic accounting review which followed the confession from AIM-listed Yu Group (YU.) on 24 October 2018 that its accounts were, in effect, a work of sheer fiction and has seen the company's £12 million placing at £10 per share being investigated by the FCA. We already knew that the bill would be around £10 million – but now it is going to be around £13 million. As ever, the ShareProphets RNS Translation Service is on hand to help us understand all this (original in bold).The findings from the Review have recently been presented to the Group's Board and Audit Committee. After assessing the outcome of the Review, and after performing additional internal analysis of its trading performance and balance sheet, the Board believe a further reduction in profitability is anticipated of between £2.75 million and £3.25 million. What's half a Bernie between friends?Consequently, the Group forecasts an Adjusted Loss Before Tax of between £7.35 million and £7.85 million1 for the year ended 31 December 2018.Notice the 1 after £7.85 million: the qualifications are:[1] The Adjusted Loss Before Tax excludes charges for Share Based Payments, gains or losses on derivatives contracts, and, for Financial Year 2018, exceptional restructuring costs, provisions made on first adoption of IFRS 9, and the costs of the Review. It is also is based on a working assumption that the corrections will not result in a restatement of prior year accounts.One might wonder how certain a restatement of prior year accounts is....100%?The Group held £11.0 million of cash at 30 November 2018 and continues to have no debt outstanding.All very well, but what about payables? At the half year cash sat at £18.2 million but payables were £15.2 million and we've just been told that the review of accounting matters has knocked around £13 million off the company's balance sheet. If the company has £11 million of cash and is still sitting on payables of £15.2 million – and receivables of £17.4 million were just a work of fiction at the half year – one might gently suggest that a rescue bailout placing is on the way.....or worse.At the half year, net current assets were £20.5 million. But now we've been told that £13 million was pure fiction, and that £7 million of cash has walked out of the door. I reckon that means net current assets are now sitting at nothing.Meanwhile, although the (fictional) interims boasted a pre-tax profit of £2 million, the cashflow statement shows an inflow (before fundraisings and dividends) of £1.6 million. But those figures were heavily helped by an increase in receivables of £4.4 million and have been shown to be fiction, and an increase in trade and other creditors of £3.9 million.We have not yet been told how much of that £4.4 million is being written off, but we do know that £6.4 million of trade debtors is being written off. That alone suggests that the group's cash position/cashburn at the half-year could have been polished by up to £8 million.So much for a £2 million pre-tax profit in the half-year! Now we are told that a pre-tax loss of around £7.5 million is expected.And since the company's market capitalisation has fallen now to just £10 million, this all looks to be a severe headache in the worst case scenario. It looks as though the company needs a bailout placing ASAP, with a collapsing market capitalisation and in a bear market.This ain't going to be pretty.To continue:Whilst recognising that future cash generation will be impacted as a result of lower than expected profitability, the Board wish to clarify that the adjustments noted have largely been reflected in the cash position of the Group at 30 November 2018. Well cash is cash and receivables are receivables. So how can the cash as at 30 November reflect the now conceded non-arrival of receivables? Is that just hogwash?As for future cash generation will be impacted... by how much? Does this actually mean it will be cash outflow? We are not told.We are also not told if the board stands by its previous claim to be confident to returning to profitability in 2019. That's a big red flag, given that we could well be sitting on zero net current assets right now, possibly with further cash heading out of the door.The failings are horrendous, including:The Group's internal controls were inadequate, including a failure to perform certain key financial reconciliations, incorrect management of systems, and poor data quality resulting from complex and manual ledger processes;And....Where controls were in place they tended to be informal and therefore applied inconsistentlyIn other words, there were none!The good news is that it seems that group auditor KPMG will be next up in the firing line:The Audit Committee is continuing to investigate the failings leading to the corrections, including via key stakeholders and with the external auditors, to ensure all appropriate lessons are learnt and actions are taken accordingly.Let's hope we hear from the FRC in due course!As for shares in Yu, it seems that a bailout placing will be needed to get through the next audit. In this market, with a market cap of £10 million and possibly with no net current assets, what do you think the effect of the share price will be?Exactly!Well done to the new FD for getting this all out in the open, but Yu is still a total and utter Bargepole.
mam fach: I also topped up { or in my case averaged down) @ 50p. Would agree any positive news will see recovery in share price. It's unbelievable that price has fallen this low. But who knows whether this is the bottom or not. GLA holders.
red ninja: Mmm from the Annual Report the full statement as regards Yu Group was :- Our largest contributor in the period was Yu Group. As a new entrant in the provision of energy supply to small businesses, we had been impressed by the revenue growth being reported with the company seeming to go from strength to strength. We were not alone and the shares performed well rising 47% in the year as a whole, with the share price peaking higher still. That said, as we outlined in the 2018 interim report, we did sell down almost three-quarters of our holding as the valuation rose and we felt the risk / reward had altered. With hindsight we wish we had sold more. This October the company announced that an accounting review by the new finance director had revealed a number of overstatements. Rather than showing a £5 million profit as previously forecast, the company now expects to be significantly loss-making in the current financial year. The company still has a strong cash balance but it will take time to resolve the issues and rebuild credibility. Whilst hugely disappointing it is, nevertheless, a useful reminder of why we take profits from our investments on a regular basis.
mam fach: Agree. Sorry for holders who paid £10. Question is will share price ever recover to £10 or even £2. It all depends on the findings of the audit.
cyberbub: Just looking in here...Looking at the last interim results in Sept (which now seem to have been misstated...), with EPS of around 10p, ie full year 20p, how did this company's share price ever get to 1000p, as this is a P/E of 50??Am I missing something?
dave4545: I doubt too they are selling now. When the demand was there for the bounce and every trader trying their luck they could get out some size but now if you tried to dump a million it would take 20-30p off the share price so doubtful they are selling. Somebody is Farn dumped near 500k and had to take 60p when the price was over 80p it's not a good market to drop a huge amount of stock in any market. All you will do is destroy the value of your remaining holding.
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