News blog
Proventec
- BY: Andrew Hore |
- POSTED: 30/11/2008 |
Proventec grew its interim revenues but its underlying loss increased.
The steam cleaning technology developer’s revenues grew by 41% to £8.18m in the six months to September 2008. Cleaning products manufacturer Contico was included for four months in the comparative period so organic growth was lower.
Stripping out last time’s disposal gain of £615,000, the loss increased from £224,000 to £649,000 as finance costs and admin expenses rose. The price of Chinese products is rising and this is exacerbated by the strengthening of the US dollar.
Proventec has formed a separate subsidiary in order to focus on the health sector. The product range is being broadened by products such as a new hand washer. The hygiene market is expected to grow at 4-5% a year.
Other core markets are food manufacturing, catering and industry. Proventec is also expanding internationally.
Net debt is £15m.
At 105p a share, Proventec is valued at £12.8m.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|