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EBTM
- BY: Andrew Hore |
- POSTED: 17/06/2008 |
EBTM moved into profit last year.
The shares rose 0.5p to 4.125p, valuing EBTM at £10.3m.
EBTM is an online music-based fashion retailer and wholesaler. It owns its own brands - Atticus, Lowlife and Panic.
A loss of £582,000 was turned into a profit of £849,000 in the year to April 2008. Revenues grew from £1.35m to £6.78m thanks to full year contributions from last year’s acquisitions. The purchase of the Atticus brand removed royalty payments from costs and helped to boost profits.
Net debt was £513,000 at the end of April 2008. The business is strongly cash generative and that debt should be significantly reduced this year. Management says that it is not looking for acquisitions at the moment but in the medium-term it may look to acquire in other European countries in order to help EBTM to expand geographically.
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