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Hexagon Human Capital

  • BY: Andrew Hore |
  • POSTED: 04/02/2010 |

Hexagon Human Capital is still talking to Barclays Bank about new banking facilities.

The executive search and interim management provider had agreed new facilities but found out that its expected cash flow was going to be worse than originally forecast.

Hexagon has not been able to make scheduled payments to HMRC and it is still discussing a revised payment schedule.

Hexagon reported a slump in revenues from £19.9m to £12.8m in the six months to September 2009. There was a swing from a profit of £1.6m to a loss of £1.95m.

Net debt was £10.4m at the end of September 2009. There is still £1.5m of contingent consideration for past acquisitions and £800,000 could be in cash.

At 10p a share, Hexagon is valued at £2.21m.

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