HAB Housing revenues crash from £800k to just £45k in what has been a challenging year.

Hab Housing, one of Crowdcube's gleaming stars, has had a year to forget. A turnover of just £45,000 and a loss for the year of £1.37m. 

The timing of the late release of their accounts for YE Dec17 could have been better for Crowdcube, who are currently lashing out ladels of PR for their new, must have, cash grab.

The company issued a bond in 2017 for over £1m but was still in deficit YE Dec17. 

This was a cash crisis rather than a fundamental problem; serious delays in two major developments. What this year brings will be interesting and we are told that heavy cuts in overheads have been made - not exactly the role out plan that was sold via Crowdcube.  

HAB raised £1.97m on Crowdcube in 2013 and should by now be making profits of around £2m on revenues of north of £5m. Well they aint and Crowdcube investors should want to know why..........before they give the platform more of their cash to promote similar businesses. 

Where is that good news Luke?