News blog
cScape Group
- BY: Andrew Hore |
- POSTED: 30/03/2010 |
Internet services provider cScape Group is showing signs of recovery.
Revenues fell from £3.46m to £2.5m in the six months to December 2009 but the two core continuing operations generated improved revenues.
cScape moved from a loss of £331,000 to a profit of £195,000 but this is flattered by a £250,000 gain on the sale of the typesetting and content management business. The cScape business, whose core operation is installing Microsoft SharePoint software, made a small loss but the internet hosting business more than doubled its profit contribution.
The sale of the loss-making typesetting business has helped to improve the balance sheet. There was net cash of £61,000 at the end of 2009, although there are £300,000 of provisions on the balance sheet.
At 11.25p a share, cScape is valued at £1.27m.
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