Wednesday, 28 February 2018

Silkfred finally publishes accounts with losses of £2.5m

Maybe this is why the IPO has been delayed?

We wrote about them here when the news broke that they going to IPO for £100m in 2017. Really on these results? The Telegraph carried this story -

According to information we have seen, the company was nowhere close to a £11m turnover for 2016, as the Telegraph states. Journalists - isnt it time they checked what they were told instead of just parroting it as fact?

This is probably just a minor glitch to be fair. The company has had no problems raising more cash  - it has just done so to the tune of £1m. Its in a rapid growth stage which just isnt translating yet into revenue. Time will tell but we had this company down as one likely to give you all a return. Just maybe not quite a £100m IPO!