Mobile data and software services provider Crimson Tide continues to win new contracts for its mpro5 system.
The new clients are involved in logistics, field audit, healthcare and maintenance.
The 2014 figures were better than expected with revenues flat at £1.21m but pre-tax profit has increased from £20,000 to £84,000, while £439,000 in cash was generated from operations. Net cash was £180,000 at the end of the year.
A new £250,000 finance facility should enable Crimson Tide to grow more quickly by providing investment for hardware used in contracts. Existing debt of £30,000 has been repaid and Crimson Tide will have available cash and bank facilities of around £750,000.
At 1.58p a share, Crimson Tide is trading on 40 times forecast 2015 earnings, falling to 18 in 2016.
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.