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Why precisely it should take the board of not-quite-yet re-branded Ultima Networks (see Ultima de-networks) almost 5 months to tally the books is a complete mystery to me, given the company only turned over £2m last year. So today’s FY trading update (to 31st Dec.) presaged its preliminary results, yet again not due till May. Haven’t they heard of spreadsheets?
Anyway, I only mention them because they are a bit of an oddball, being somewhere in the midst of a transition from software and IT services play (Cognito – software for legal eagles) to ‘green’ play (electric bicycles and solar power) – no, honestly!
The trading update was all very jolly, though its stock is not in a happy place, having lost more than 40% of its value over the past 12 months. Ultima’s shares are now trading under a penny.
