I just got off the phone with Finn Walstad (their contact for I.R.). It seems that NOT ALL the subsidiaries in Bangladesh have been included in this unaudited financial compilation.
It would have been nice to see that remark somewhere in the press-release as these headline numbers are disappointing.
Mr. Walstad said that he talked to Mr. Matin (hearsay so I cannot vouch for this) and according to Mr. Matin Veltex is still on track to meet the before specified targets i.e. $ 60 mln in rev. and $ 1 eps. But as I said I did not get this from Mr. Matin himself.
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