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Eruma

  • BY: Andrew Hore |
  • POSTED: 28/04/2008 |

Security blinds and emergency lighting company Eruma is well placed to benefit from increased spending on security and counter-terrorism. 

Eruma floated nearly three years ago and it has spent the intervening period building a base from which to grow its business. Revenues are predominantly UK-based but there is scope to grow internationally.

The core security blinds business supplies aluminium or rigid plastic blinds with a rotating steel bar inside each blade. They help to prevent burglaries and can withstand a bomb blast. The latter was shown in tests at the end of last year and significantly increases the size of the potential market.

In July 2007 Eruma acquired emergency lighting company Illuminex. The lighting uses the latest LED and battery technology. Philips have signed a distribution agreement for the UK. This could generate revenues of up to £1m over the first 12 months. The sales will start to come through in the second quarter of 2008 but are unlikely to be significant until the second half of 2008.

Chief executive Wayne Money says that he is looking for other acquisitions that have niche security products that can be sold with the existing product range.

The 2007 results are being audited and should be published in the next few weeks.

The shares fell 0.125p to 6.375p, valuing the company at £7.5m.

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