News blog
Accumuli
- BY: Andrew Hore |
- POSTED: 22/05/2012 |
Managed IT security services provider Accumuli has shown in its fully year figures that its business can be highly cash generative.
Accumuli’s figures for the year to March 2012 are the first in its current form. The Boxing Orange acquisition is included for 49 weeks and the rest of the business was included for the full period. Revenues were £12.6m and there was a small reported pre-tax profit, although adjusted profit was £2m. However, there was £2.59m of cash generated from operations. Net cash was £1.96m at the end of March 2012.
Accumuli is trying to increase its recurring managed services revenues and it is focusing on SIEM (Security Information and Event Management), which provides information about potential security threats.
House broker finnCap forecasts 2012-13 revenues of £13.8m and underlying profit of £2.4m.
At 11.75p a share, Accumuli is valued at £16.6m. The shares are trading on 10 times prospective 2012-13 earnings.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMay2012_32.pdf
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