News blog
Clearer future for Corsie
- BY: Andrew Hore |
- POSTED: 26/06/2007 |
Exceptional items confuse the maiden full year results from bowling equipment and health products distributor Corsie.
Stripping them out, underlying profits trebled to £187,000 in 2006. There is a £315,000 charge relating to the lease on its old warehouse but the company is confident it can find a new tenant by the time of the AGM so this charge could be reversed. At the end of last year Corsie moved into a new warehouse. It is using around 40% of the warehouse’s capacity and intends to add further distributorships and make acquisitions to help use up that spare space. The shares have dropped to 2.125p, which values Corsie at £4m, but clearer figures this year may help them to recover.
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