News blog

CSF Group

• BY: Andrew Hore |
• POSTED: 22/01/2014 |

Data centre operator and developer CSF Group has completed the initial phase of its strategic review.

CSF will focus on developing network connectivity for its data centres and restructuring its operations. Partners may be brought in to enable additional services to be offered.

Phil Cartmell will continue as interim chairman to oversee the continued progress of the strategic review. An appointment of a chief executive will be delayed until the company is on a firmer footing. Costs are being kept under control in order to conserve cash.

There was £8.3m in the bank at the end of September 2013, following a cash outflow of £3m in the previous six months even though capital expenditure was reduced. CSF is losing money due to a combination of lower revenues and provisions against debts and leases.

At 3.25p a share, CSF is valued at £5.2m, which is less than the last reported cash figure but cash will be lower now.

Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFJanuary2014_52.pdf