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Cupid Trading Statement - The Great Unravel begins: target price 10p

Tom Winnifrith
Thursday 30 May 2013

AIM Cesspit listed Cupid (CUP) is starting to unravel far faster than I imagined. A statement yesterday is really pretty grim.  It contains three elements which I discuss in turn. But I first refer you to March 5th.



An online business must by definition have very rapid financial reporting functions. It knows how trading is going on an almost daily basis and so can comment on its trading performance very accurately at any point. And on March 5th when announcing calendar 2012 numbers Cupid stated:



Whilst it is still early in the year, we are confident that the business is well positioned for another year of healthy revenue growth, profitability and cash generation.

Wind forward less than three months to May 29th and we now have another statement. Firstly on trading:

 

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About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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