News blog

Nature Group

  • BY: Andrew Hore |
  • POSTED: 18/02/2013 |

Waste water treatment services provider Nature Group has secured a deal to sell two CTUs (containerised treatment units) to Norway-based IKM Gruppen, a major North Sea equipment rental business.

The revenues from the sale are undisclosed. Nature will also receive a fee per cubic metre of waste water processed and generate revenues from training. IKM only has the rights to sell the services for treating drilling slops in Norway. The company had hoped to directly supply customers but found it difficult to break into the market.

Nature has been hit by a number of disappointments in the past couple of years, including an accident at its Gibraltar plant, and its profit is forecast to fall from £2.2m in 2011 to £700,000 in 2012.

The IKM deal combined with a rental agreement with Statoil in Tanzania, worth at least $1m over 12 months, helps to underpin the current profit forecast of £1.8m for 2013. It also gives cofidence to expectations that the dividend can return to 0.5p a share.

At 28.25p a share, up 3p, Nature is valued at £22.4m. The shares are trading on 15 times prospective 2013 earnings, falling to 10 in 2014.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2013_41.pdf

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