http://www.stockopedia.com/news/announcement/PWR/090303pwr1803o.htm
RNS today showing six-monthly figures. As is typical with these kinds of results, the management show glowing headline pre-tax operating figures with revenue up 29% and operating cashflow up 86%... but these figures are inflated by acquisitions in the last year - like for like sales growth is pitiful and deflated by about 2% yoy.
What gives me the willies here is that the accounts don't seem to tally.. the cash flow statement shows end of period cash balance at -£1.608m, whereas the balance sheet shows £321,00 ... ? I thought I was an educated fellow, so I've sent an email to the IR dept to explain this anomaly.
If I'm grossly mistaken in my analysis let me know.
