News blog
CEPS
- BY: Andrew Hore |
- POSTED: 22/09/2008 |
CEPS says that its over trading is better than expected.
A full six month contribution from Sunline, the direct mail services business, helped CEPS increase its revenues by 13% to £8.1m in the six months to June 2008. Pre-tax profits improved from £331,000 to £400,000.
Lycra distributor Friedman’s and equine products supplier Davies Odell increased revenues by 11% to £4.4m. However, its profits have fallen. Friedman’s has been hit by the strength of the Euro because it purchases raw material in that currency.
Sunline generated revenues of £3.8m in the first half of 2008 against £3.2m between February 2007, when it was acquired, and June 2007. This business did even better than expected and generated profits of £538,000.
Friedman’s still finds trading tough because of the exchange rate. In contrast, Davies Odell and Sunline are still trading strongly.
At 29.5p a share, CEPS is valued at £2.45m.
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