News blog

TEG Group

  • BY: Andrew Hore |
  • POSTED: 19/03/2013 |

TEG Group reported better than expected 2012 figures thanks to a strong second half.

Revenues improved from £17.9m to £22.4m, while the underlying loss fell from £1.74m to £1.13m. This masks a second half profit.
Plant operating revenues improved from £8.94m to £10.4m. Food waste volumes increased 24%and green waste volumes 17% higher. A £2m, six year green waste contract will start in April. The Todmorden and Telford plants are being expanded.

Equipment sales grew from £8.93m to £12m, including a £6m contribution from the Dagenham composting and anaerobic digestion (AD) project where construction started in October. The Dagenham site should be up and running by the end of the year and the management contract should contribute £1.3m a year.

The Perth AD plant is up and running and generating electricity.

Net cash was £1.5m at the end of 2012. There is £683,000 of deferred consideration payable. TEG is also waiting for the £1.5m of retained payments for three plants provided to Greater Manchester.

Dagenham is expected to contribute £7.5m in 2013. If no new projects are secured then the plant operating side of the business will generate the majority of revenues this year. Annualised overheads will be £500,000 lower this year.

At 6.5p a share, TEG is valued at £12.3m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2013_42.pdf

© 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 This material may not be published, broadcast, rewritten or redistributed.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

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds