A disastrous RNS from Utilitywise this morning. This follows an increasingly revisionary series of news that always diminished previously reported profitability and cash flow.

Brendan Flattery, the new CEO, appears to be tackling the issues but missing from this morning's announcement is the resignation of the directors and CFO if appropriate, responsible for this "over estimation of energy consumption".

"Over estimation"  on this scale reeks of deliberate fraud - is nobody in Utilitywise familiar with metering?

Come on Brendan, I am tired of this drip feed; act decisively.


Disclosure: Long: LON:UTW

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