News blog

Hot Tuna International

  • BY: Andrew Hore |
  • POSTED: 29/12/2008 |

Surf wear brand owner Hot Tuna (International) has written down the value of its brand by £2.6m.

Intangible assets are now worth £2.65m with an additional £207,000 of goodwill.

The write down has pushed the loss for the year to June 2008 to £5.77m. Revenues jumped from £619,000 to £1.13m and this helped to reduce the underlying operating loss from £3.7m to £3.18m. Net debt was £220,000 at the end of June 2008. There is an undrawn credit facility of £2.95m.

Cost cutting should help to improve the performance this year. Staff numbers have been reduced from 47 to 16.

Hot Tuna wants to re-establish the brand as “a genuine heritage surf-lifestyle brand”. Debenhams intends to sell Hot Tuna products in more stores.

The shares fell 0.18p to 0.95p each, which values Hot Tuna at £1.72m. 

© 2019 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

News Blog
All micro news

Oracle Power

Lignite coal mine and power plant developer Oracle Power has raised £500,000 at 0.425p a share. 

Continue reading... | 22/02/2019

LiDCO Group

Changing to a SaaS model has held back revenues at patient monitoring equipment supplier LiDCO Group. 

Continue reading... | 20/02/2019

HML Holdings

Property manager HML Holdings is making the immediately earnings enhancing acquisition of a rival London-based lettings manager. 

Continue reading... | 19/02/2019


Ironveld has raised £1.1m at 1.75p a share.

Continue reading... | 19/02/2019

All micro news

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at Subscribe to AIM Micro RSS Feeds