News blog
Cagney
- BY: Andrew Hore |
- POSTED: 30/03/2009 |
Marketing services provider Cagney made a small operating profit in 2008.
Revenues grew from £11.3m to £11.8m, while the pre-tax loss fell from £1.09m to £151,000. That figure does not include a £3.5m goodwill impairment charge.
Shares in Cagney rose 0.28p to 0.93p a share, which values the company at £2.02m.
Cagney has not finalised the deferred consideration payable for 2008 but it is estimated at £800,000. There is no more deferred consideration payable after that. Net debt is £2.3m.
More than £500,000 has been knocked off the cost base in 2009 and the year has started profitably. Chief executive Steve Mattey says that Cagney is well placed to make further progress in 2009.
Bid discussions are continuing.
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