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Archial Group
- BY: Andrew Hore |
- POSTED: 02/04/2009 |
- COMMENTS: Add yours
Architect Archial Group reported a sharp improvement in its results for 2008.
This sparked a 2p improvement in the share price taking it to 6.75p, which values Archial at £16.1m.
Revenues slipped from £44.2m to £42.5m but margins improved for the company, which used to be known as SMC. Archial reported a loss of £5.19m in 2007 and turned that into a pre-exceptional profit of £2.65m last year. Annual cost reductions of £4.7m helped.
The business has a good split of operations between UK public sector, UK private sector and international. Archial has already secured 80% of its expected revenues in its order book.
Cash flow from operations was strong. Net debt fell from £14.3m to £5.7m. Banking facilities have been renewed.
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