Consumer products developer LiteBulb Group Ltd has added to its range of products through the launch of children’s gardening products under the Seedlets brand.
The range is being promoted by Blue Peter gardener Chris Collins. This is the eighth range of products owned by LiteBulb, which recently acquired Bluwstuff, which develops gifts and toys. LiteBulb has also launched product innovation agency Rizon and runs promotional items supplier Premium Factory.
The purchase of Bluwstuff has added new retailer relationships so the group has a much wider range of potential retailers as well as international distributors.
In the six months to December 2012, revenues fell from £1.63m to £1.03m as the company shed unprofitable Premium Factory work. The loss declined from £597,000 to £556,000.
Net debt was £340,000 at the end of June 2012 but share issues mean it is in a net cash position. LiteBulb is expected to generate enough cash this year to cover required increases in working capital.
House broker First Columbus forecasts a profit of £300,000 in the 18 months to December 2013. A profit of £1.8m is forecast for 2014. If that figure is achieved then the shares will be trading on less than four times prospective 2014.
At 0.64p a share, LiteBulb is valued at £8.38m.
Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFMarch2013_42.pdf
© 2021 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.