From the other place...
The question is... "Goodwill"? £9.6m?
Sale
Parity have just announced the sale of their US resourcing operation to Kenda.
The payments will be spread out over a period of time but will be in the 1.1m to 1.3m range.
That means that they have now got rid of their US operation after previously getting rid of their mainland Europe operation.
Debt
Their Net Debt is £15.5m – up by £1.8m from last time.
They have Total Assets of £62 million – which is about the same as the equivalent period last year.
However their Liabilities have shot up from £52m to £59m.
This means that a company of their size has Net Assets of only £3m – which is down from £10.7m last year.
And this includes £9.6m of Goodwill. If that is taken away then they have negative assets.
Worrying
This must be very worrying for the group – especially as the recruitment market seems to have got stuck at around the same levels.
Their banker Lloyds TSB has recently rescheduled their loan payments. This is a bit of a worrying sign.
The same happened to SBS before the banks called in their loans and broke up and disposed of the various businesses.
Parity has put a new man in place to create a strategic plan and carry it out. Part of this is the disposals that are taking place.
Parity have just announced the sale of their US resourcing operation to Kenda.
The payments will be spread out over a period of time but will be in the 1.1m to 1.3m range.
That means that they have now got rid of their US operation after previously getting rid of their mainland Europe operation.
Debt
Their Net Debt is £15.5m – up by £1.8m from last time.
They have Total Assets of £62 million – which is about the same as the equivalent period last year.
However their Liabilities have shot up from £52m to £59m.
This means that a company of their size has Net Assets of only £3m – which is down from £10.7m last year.
And this includes £9.6m of Goodwill. If that is taken away then they have negative assets.
Worrying
This must be very worrying for the group – especially as the recruitment market seems to have got stuck at around the same levels.
Their banker Lloyds TSB has recently rescheduled their loan payments. This is a bit of a worrying sign.
The same happened to SBS before the banks called in their loans and broke up and disposed of the various businesses.
Parity has put a new man in place to create a strategic plan and carry it out. Part of this is the disposals that are taking place.
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