News blog

Straight

• BY: Andrew Hore |
• POSTED: 10/02/2014 |

Recycling containers supplier Straight says that 2013 revenues and EBITDA were in line with expectations. 

This year Straight has been awarded two contracts worth a total of £2m by Birmingham and Gravesham councils and other contracts are being negotiated.

Straight made EBITDA of £1.12m in the first half of 2013. Interim pre-tax profit was £340,000, compared with a loss for the first half of 2012. Net debt was £2m at the end of June 2013.

Cenkos forecasts a £500,000 profit for 2013, rising to £600,000 in 2014. 

At 45.5p a share, up 3p, Straight is valued at £5.23m. The shares are trading on 11 times 2013 earnings.

Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFJanuary2014_52.pdf