News blog
EU Supply
- BY: Andrew Hore |
- POSTED: 29/01/2015 |
e-commerce systems developer EU Supply generated slightly lower than expected revenues in 2014 and the cash outflow was greater than forecast.
Revenues were around £2.5m in 2014 and the loss was £2.1m. Net cash was £1.1m but Westhouse had expected £1.5m.
Although long-term contracts have been renewed Westhouse has decided to remove three new large contracts from its 2015 forecast thereby reducing revenues to £3.5m. A 2015 loss of £1.4m is forecast whereas last April Westhouse was predicting a profit for 2015. In 2016, EU Supply is expected to breakeven on revenues of £4.9m.
Additional EU directives will help to boost demand for the company’s services but it is unclear whether the cash will last until EU Supply starts generating cash.
At 17p a share, EU Supply is valued at £10.6m.
AIM Journal January 2015 available.
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