Friday, June 12, 2009

Burger Fuel Worldwide: Closer look at Company Accounts

Further to yesterday's analysis of the Burger Fuel profit to 31/06/09, which I thought was misleading for shareholders, because of largely meaningless comparisons made between 2009 and 2008 profit. If you want to get a better picture of how things are really going have a look at the brief company accounts. ( you need to be a Share Investor Forum member to see them - join here)

Look especially at revenue for the company and where it comes from and look closely at year to year comparisons.

On first look the NZX release makes Burger Fuel Worldwide [BFW.NZ] position look quite good (and the lower loss is clearly a positive) but it is a different story once you look closer and in more detail.

Nice management spin.

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