News blog
EXPANSYS
- BY: Andrew Hore |
- POSTED: 08/08/2012 |
Online wireless technology retailer EXPANSYS has made progress even though trading conditions, particularly in the UK, are tough.
EXPANSYS increased its revenues by one-third to £108.5m in the year to April 2012, while underlying profit was 27% higher at £4.3m. US and Asian retail operations are both growing strongly, while European retail revenues were flat. The retail side made a loss. UK SIM card distributor DSNS made nearly all the group profit with a small contribution from the e-commerce business.
EXPANSYS admits that DSNS has received a claw-back claim from a UK mobile network but it says that it does not believe the claim is valid. This will hamper that part of the business in this financial year but the retail division will continue to grow. However, UK retail profit is under press and EXPANSYS will find it difficult to improve overall profit this year.
At 1.27p a share, EXPANSYS is valued at £14.8m. There was £5.43m in the bank at the end of April 2012.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJuly2012_34.pdf
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