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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