News blog
Enfis Group
- BY: Andrew Hore |
- POSTED: 16/08/2009 |
Revenues are growing at Enfis Group but they are not rising as fast as hoped because of project delays.
The company’s products are generally funded through capital expenditure and this spending has been cut by many customers.
The light emitting diodes developer increased its revenues from £392,000 to £530,000 in the six months to June 2009. The loss fell from £1.08m to £680,000.Net cash was £1.33m at the end of June 2009.
Management says that £3.5m of expected 2009 revenues are likely to show through in 2010.
Enfis reported a loss of £1.3m on revenues of £1.6m in 2008. When these figures were announced Enfis raised £2m at 36p a share. The share price had risen strongly since the fundraising but it fell 27.5p to 62.5p on the day the interim figures were published. That values Enfis at £9.36m.
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