profits warnings

[tuscaneer]

did anyone else see the reports in the sunday papers that tvr has announced losses for last year of over 11 million quid?? I know smolenski expected a bit of turmoil to begin with but that figure is much higher than i would have thought.I must admit that with recent warranty hikes to 3 years i am a bit nervous.I hope he has got deep pockets to see the company through the next year or two

[ATG]

There were some threads on this a couple of weeks ago. Seems a fairly large portion of the loss was due to a revaluation of stock, i.e. it wasn't a loss arising from normal business activity. Production was also halted in an attempt to improve the product for several months, so that would obviously also hit turnover. Think it's reasonable to conclude that these figures aren't good, but they aren't disasterous either. NS isn't going to cut and run because of these numbers.