News blog
CEPS
- BY: Andrew Hore |
- POSTED: 07/05/2008 |
- COMMENTS: Add yours
CEPS says it is in talks with a number of potential acquisitions.
These would either be stand alone businesses or add-on purchases for its three main businesses: lycra distributor Friedman’s, Sunline Direct Mail or Davies Odell, which supplies equine products.
CEPS increased its pre-tax profits by 142% to £674,000 on doubled revenues of £15.4m in 2007. Net debt was £2.3m, although that excludes debtor-backed facilities of £708,000.
Management is cautious about the current year. Friedman’s is suffering from the movement in the Euro while Davies Odell is finding it tough to pass on cost increases. In contrast, Sunline has made a good start to the year. The overall performance is in line with expectations.
The shares rose 2p to 39.5p, valuing the company at £3.28m. The shares are trading on less than six times 2007 earnings.
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