Wednesday, 15 March 2017
New Galexy Services makes some money but misses Crowdcube targets
New Galexy have been consistent performers for Crowdcube - missing all of their 3 year projections handsomely. The pitch stated that the company aimed to be sold in 2018 for squillions.
Well the good news is the company has just posted its YE Oct 16 accounts and they show net profits of around £290k, up from £90k. The bad news for investors is that this figure was supposed to be over £2.6m. At this rate they may get sold by 2025.
Cash is looking tight, so we'd expect to see the company back for more from the trough soon. At a greatly increased valuation, of course.