Sound Energy plc (lon:sou)
Sound Energy - I Simply Don't Understand!

Sound Energy plc Financials

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Sound Energy plc Share Price
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Title: Sound Energy - I Simply Don't Understand!
Company: SOU - Sound Energy plc
Share Price Then: 45p
Author: Ian Smith
Date: Wed 09 Aug 2017
Comments: Sound Energy are a Mediterranean gas company who have been on the AIM since 2008 and are yet to pay a dividend.

They came to my attention because of big share price movement and the fact that they have a £332m market capitalization. In other words the numbers suggest a company worthy of study.

Just in case the lack of dividends is worrying the highlights in the latest annual reports include

  • Completion of group debt-refinancing

  • Successful £26.9 million institutional and retail placing

But nothing about revenue.

That may be because revenue for 2016 was £0.8m (yes £800k and down from £0.9m the previous year) and a reported loss of £15m.

Yet the CEO James Paterson received just over £1m in salary, performace and exceptional bonuses!

Maybe I am missing something and the company is about to start coming on stream so I decided to look for Broker Views, but Only finnCap and Cantor Fitzgerald are covering them.

All in all a lot more research seems to be needed before a decision can be made.
Read Count: 102/33

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