Will these reorganisations deliver?
Results and updates from AIM covered here include news of a reorganisation for a cash consuming technology company which clearly needs to sort itself out. Elsewhere, recovery continues for an elderly soft drinks group which has also undertaken a review of some of its activities, while an asset manager looks in excellent shape. Read on here for this and other news from AIM.
essensys: will it start to deliver? essensys (AIM:ESYS), the provider of flexible workspace technology, issued a trading update for the 6 months to 31 January 2023. While the financial highlights suggest that progress is being made, with revenue up 18% in the period to £12.9m, it’s evident they are still struggling to make a positive overall return. There appears to have been a huge cash outflow over the period, with net cash at the period end declining to £12.6m from £24.1m at the July 2022 year end. This was apparently due to the timing of working capital movements and is…