News blog
Autologic
- BY: Andrew Hore |
- POSTED: 27/01/2012 |
- COMMENTS: Add yours
Guinness Peat has sold its 26.2% stake in automotive support services provider Autologic to Invesco.
Autologic continued to recover in 2011. In the first half it increased revenues by 10% to £76m, although underlying pre-tax profit was flat at £1.1m because of a higher interest charge. However, Autologic said that the second half would be tough.
Net debt was £6.2m at the end of June 2011. That was higher than the end of 2010 and 12 months before. That was mainly down to the purchase of transporters and other capital spending, as well as an operating cash outflow. The bank facilities are in place until September 2015.
At 14p a share, Autologic is valued at £8.71m. The share price has fallen by more than one-third over the past year.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJanuary2012_28.pdf
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