Coronavirus impact: 30 Sept - some big pandemic winners and losers
Boohoo Group announced another set of fantastic results and, with a huge pile of cash at its disposal, is in excellent health. Other companies covered here are unfortunately having a more challenging time.
Northbridge: plenty of patience neededInterim results from Northbridge Industrial Services (LON:NBI), the industrial services rental company, featured a significant impairment, something we consider was long overdue. While revenue only declined 4.5% to £16m, the Group reported a pre-tax loss of £7.7m after impairments of a similar amount. As you would expect from a capital equipment business of this type with significant rental activities, operating cash flow was a positive at £3.6m, but free cash flow only £840k after hire fleet expenditure and interest charges, to name a few. The Group closed the period with net tangible assets £24.6m, broadly the…