Green Compliance says that trading has picked up in the first few months of the year and it has secured its new banking facility.
The water, fire and pest control compliance services provider says that several customers have renewed contracts and other customers are buying more than one service. Revenues were 5% higher in the first quarter of 2013 than the fourth quarter of 2012. March was the best sales month since last October.
Annualised cost savings of £1m were made in the first quarter.
A £9m revolving credit facility will last until the end of 2013. The interest charge is 4 percentage points above LIBOR. This facility replaces a £7.5m revolving credit facility and £1.65m overdraft.
At 2.1p a share, up 0.3p, Green Compliance is valued at £2.64m. This takes the share price above the placing and open offer price of 2p a share for the first time since February.
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