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Not time to hoist the mainsail just yet. Discovery Yacht Group disappoints.
DYG raised £2.21m on Crowdcube in January 2018. Recently filed accounts for year ending August 18 show a loss of £700k. This is against a substantial projected profit for the year as shown in the Crowdcube pitch.
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Too early to be calling for the lifeboats but from these accounts trading looks a little thin - trade debtors of only £1,664, when the accounts take in the main part of the peak summer trade. They have raised more money since so there is no chance of drying out.
Projected profits for the year now closing are huge.
There are large sums being exchanged intra group and between directors which always makes me nervous. But plenty of time to trim the sails and make everything ship shape. Shareholders' views welcome.
Tuesday June 11, 2019
Hardman and Co’s Brian Moretta in conversation with ECF Buzz Founder Rob Murray Brown on start up investing, equity crowdfunding and what’s a good read.