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SnackTime
- BY: Andrew Hore |
- POSTED: 07/05/2010 |
SnackTime says that it will meet market expectations for 2009-10 and continue to grow strongly this year although costs will also be higher.
House broker Arbuthnot forecasts profits of £1.28m in the year to March 2010, which is a sharp increase on the £202,000 reported in 2008-09.
At 163.5p a share, the vending machines operator is valued at £17.8m. The shares are trading on 19 times prospective 2009-10 earnings.
SnackTime raised £5.8m at 170p a share last autumn. SnackTime bought the trademark and assets to snack and chilled drinks provider Snack in The Box for £1.5m just prior to the fundraising. SnackTime expects to make at least one acquisition this year.
The cash raised was earmarked for acquisitions and investment in sales and marketing. The latter investment will increase the marketing budget by £750,000 this year.
SnackTime has won a contract with Northamptonshire court service for hot drink machines.
The full year figures will be released in July.
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