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MBL Group

  • BY: Andrew Hore |
  • POSTED: 17/06/2014 |

Peter Cowgill has resigned as chairman of home entertainment and garden products retailer MBL Group following a strategy disagreement with the rest of the board. 

This comes one month after former Findel boss Tony Johnson was appointed to the board and he becomes chairman.

MBL continues to lose money, although the home entertainment division made a small interim profit on lower revenues. Revenue growth is coming from the garden and leisure division. Net cash was £3.09m at the end of September 2013, although cash is required because supplier credit is difficult to come by. The NAV was £4.48m.

At 8.5p a share, MBL is valued at £1.47m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2014_57.pdf

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