The Evil Diaries: Outsourcery – Rain on the Way

0 mins. to read

Evil discusses Outsourcery…

Some people insist on slagging off Outsourcery (OUT) since they have taken a dislike to the co-boss, one Piers Linney. I doubt if this is a sensible starting point. One should surely confine oneself to the figures. However, these are awful.

Although the board issues an upbeat tone it is quite impossible to identify the starting point for such enthusiasm. I shorted 100,000 at 23p.

The fact is that tangible net assets at 31st December 2014 were minus £1m as against a capitalisation now of £10m or so. The business has obviously lost money in the first three months of 2015 and is still losing money and, therefore, the market should stand by for a drenching with further stock.

Comments (0)

Comments are closed.