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Charteris

  • BY: Andrew Hore |
  • POSTED: 26/10/2012 |

Business and IT consultancy Charteris has more than halved its full year loss even though revenues fell sharply. 

Revenues declined from £12.5m to £9.6m in the year to July 2012, while the underlying loss fell from £806,000 to £386,000. Charteris broke even in the second half and second half revenues were higher than the previous six months.

Annual staff costs were 29% lower and other admin expenses fell by 25%. That was faster than the decline in revenues. Most of the redundancies were in the previous year.

Charteris has slipped into net debt at the end of July 2012. Net debt was £83,000, mainly down to a £515,000 VAT charge on an asset disposal. The debt is an invoice discounting facility of up to £1.25m.

At 1.88p a share, up 0.25p, Charteris is valued at £940,000. The share price has more than halved in the past year.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFOctober2012_37.pdf

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