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Coronavirus impact: 26 March - balance sheets wobbles

26/03/2020 · Arena Events Group PLC (ARE)  · Breedon Group (BREE)  · Brickability (BRCK)  · Hostelworld (HSW)  · Smart Metering Systems (SMS) 
AIM Coronavirus UK

Nearly every announcement from the corporate world seems to be accompanied by a reference to a strong balance sheet, or similar reassurance. What’s increasingly clear is that this kind of hubris is often far from the truth.

We fail to see how a business can allude to a strong balance sheet if its future is dependent on the ongoing support of its bank.  Breedon Group: reassures on ability to see things out Construction materials group Breedon (LON:BREE), was looking forward to an exciting year following a highly supportive budget but, like most of the country, it is now suspending production at its UK sites, with the exception of its Hope cement plant and other operations which serve critical supply needs. Its operations in the Republic of Ireland continue to operate but we wonder how long that will last. Capital expenditure is now on…

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