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Accumuli

• BY: Andrew Hore |
• POSTED: 05/04/2012 |
• COMMENTS: Add yours

Managed IT security services provider Accumuli says that its figures will be inline with expectations in the year to March 2012.

Revenues of £12.5m and a profit of £1.7m are forecast. The profit is expected to improve to £2.4m in 2012-13.

There was £2m in the bank at the end of March 2012.

Despite early financial discrepancies, Boxing Orange performed strongly enough to earn its vendors deferred consideration of £443,000, of which £420,000 has been provided for in the interim accounts.

All the company’s acquisitions, except for Webscreen, have been rebranded as Accumuli Security. The expected cost reductions have been made - £400,000 of savings were expected from integrating Boxing Orange.

The main focus is widening the services offered particularly in Security Information Event Management (SIEM).

At 11.5p a share, Accumuli is valued at £16.2m.The shares are trading on 10 times prospective 2012-13 earnings.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2012_30.pdf

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