News blog
Access Intelligence
- BY: Andrew Hore |
- POSTED: 04/07/2011 |
- COMMENTS: Add yours
Access Intelligence is selling search and information management company Solcara to Thomson Reuters for £2.5m.
In November 2008, Access Intelligence purchased Solcara from Aim-quoted ArgentVive for £750,000. ArgentVive acquired Solcara in January 2008 for £4.5m but it needed the cash so it had to sell at a large discount. Since then, other parts of Solcara have been transferred to different areas of Access Intelligence leaving it concentrating on the legal sector.
Solcara made an operating profit of £19,000 on sales of £750,000 in the year to November 2010.
The positive news about the disposal has helped to offset the disappointing performance of compliance software supplier Cobent. This is the main reason behind a decline in EBITDA from £704,000 to not less than £430,000 in the six months to May 2011. That does not even include £202,000 of reorganisation costs for Cobent. Heath Williams has been appointed chief executive of loss-making Cobent.
House broker Northland has downgraded its profit forecast for the year to November 2011, from £1.27m to £510,000, which mainly reflects a further delay in the recovery of Cobent. The 2011-12 forecast has been cut from £1.57m to £1.2m.
Northland believes that Access Intelligence will have net cash of £4.6m at the end of November 2011. Access Intelligence can even pay dividends if it wants to following a capital reorganisation.
At 3.5p a share, up 0.75p, Access Intelligence is valued at £9m. The shares are trading on 22 times 2010-11 prospective earnings, falling to 10 in 2011-12.
© 2007 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- 2.4mNumber of messages posted on SocialGo networks
- $38mCost savings generated by ideas from WalMart staff over a two month period
- 19.4m
Number of people passing through Johannesburg Airport in 2007
- News Blog
- All micro news
Sanderson Group
Enterprise software provider Sanderson Group is continuing to benefit from growth in multi-channel retailing.
Resources In Insurance Group
Claims management services provider Resources In Insurance Group has slashed its loss in 2011.
atUK
e-commerce services provider @UK has gained a four year national e-commerce framework agreement for all UK public bodies.
Hydrogen Group
Recruitment firm Hydrogen Group says that net fee income for the first four months of 2012 was higher than the same period last year.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|