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Nature Technology Solutions Ltd

  • BY: Andrew Hore |
  • POSTED: 02/06/2008 |

Nature Technology Solutions has reported its first ever profit.

Turnover jumped 89% to £2.25m in 2007, while a loss of £104,000 was turned into a profit of £392,000. There was also a cash inflow from operations.

The waste water treatment company’s management admits that much of the increase in turnover stemmed from non-recurring contracts in Norway and Gibraltar. However, they believe that the increase in capacity in Gibraltar means that revenues should be at least as good in 2008. It may be more difficult to maintain the contribution from Norway. The main potential area for new business is the North Sea.

The bid for NTS’s 50% stake in Slop Oil Reception and Treatment Ltd that fell through didn’t stop it contributing an operating profit of £420,000 – based on NTS’s 50% share – before central admin costs. The Norwegian operations were the biggest contributor to profit, though.

NTS hopes to establish a new joint venture in Aberdeen and may also buy a soil remediation company in the city. There is potential to expand in the Middle East and a contract for a treatment unit in Kazakhstan is being negotiated. The latter could make a contribution in 2008.

Net asset value, excluding intangibles, is £2.74m. The shares jumped 0.2p to 0.73p, valuing NTS at £3.56m.

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