News blog
Enfis Group
- BY: Andrew Hore |
- POSTED: 17/02/2010 |
Light emitting diode products developer Enfis Group has completed its strategic review.
Enfis has decided to target upmarket lighting fixture and equipment manufacturers. This will involve working through resellers. Once Enfis technology has been designed-in to manufacturers’ products this should ensure substantial sales over a number of years. However, sales cycles can be long.
Enfis will specialise in the light engine part of the system and it is trying to reduce costs of production and increasing functionality. This will open up new areas to Enfis.
Focus on efficient use of energy will continue to increase demand for LED lighting. Target markets will be entertainment, medical, architectural and high end retail lighting.
Enfis believes that it will have enough cash for working capital. There was more than £1m in the bank at the end of 2009. It appears that the reduction in the cash pile in the second half was less than £400,000. The cash outflow has been cut by overhead reductions and some of the cost savings will be invested in more technical staff.
Revenues remain relatively modest and they are much lower than expected a year ago. They were just over £700,000 in 2009. That is similar to the profit forecast for 2009 by FinnCap at the beginning of 2009.
Revenues were £530,000 in the first half of 2009 and £1.63m for the whole of 2008.
At 15.5p a share, up 2p on the day, Enfis is valued at £2.32m.
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