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  • BY: Andrew Hore |
  • POSTED: 31/12/2007 |

Surveillance equipment supplier Croma doubled its loss last year even if goodwill impairment is excluded. 

Turnover doubled from £2.82m to £5.64m in the year to June 2007, while the pre-tax loss before amortisation rose from £880,000 to £1.72m. The reported loss was £3.82m, which includes more than £1.5m of goodwill impairment. Intangible assets are still double the net asset value of the company. The net cash outflow from operations was lower than the previous year.

There is hope for the future, though, because Croma has closed all its loss-making subsidiaries. The head office has been transferred from Hereford to Scotland. Turnover in the four months to October 2007 is 38% higher at £2.18m.

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