News blog

Adventis

BY: Andrew Hore |
POSTED: 20/01/2012 |
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Marketing services provider Adventis Group has cut debt levels and is concentrating on its two remaining technology-focused operations which have recently won a significant contract.

Net income generated by the technology businesses in 2011 was £4.6m and they made an operating profit of £500,000. The new contract with a global technology brand may be an opportunity to start an operation in North America. Adventis still owns a small property marketing agency.

The share price almost trebled to 2.2p a share on the back of the reassuring statement, which values Adventis at £1.07m. There were a large number of small deals during the day and nearly one-fifth of the shares in issue were traded.

Debt was £2.2m at the end of 2011 and collecting working capital from the recently sold media businesses should raise a further £500,000.

The 2011 figures will be published in April. Net income was £10m and the operating loss was around £700,000. On top of that there are restructuring costs of £500,000 and goodwill write-offs of £4.3m. There should not be any more significant restructuring costs.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2012_28.pdf