News blog
Southern Bear
- BY: Andrew Hore |
- POSTED: 16/08/2009 |
Engineering and support services provider Southern Bear more than doubled its profits in the year to March 2009 and it is set to repeat that achievement this year.
Acquisitions were behind much of the growth and earnings per share were flat.
Revenues grew from £8.74m to £18.8m, while pre-amortisation profits jumped from £741,000 to £1.66m. Net debt was £3.84m at the end of March 2009 and there is potential deferred consideration of £1.85m.
The profits growth came from the support services division with the engineering division reporting a short decline. GlaxoSmithKline is closing one of its plants and this
Southern Bear is forecast to make a profit of £3.5m in the current year.
The shares have risen by one-third to 2.5p each over the past week. That is similar to the share price one year ago. The shares are trading on less than seven times prospective 2009-10 earnings. Southern Bear is valued at £17.6m.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|