News blog

PSG Solutions

  • BY: Andrew Hore |
  • POSTED: 16/07/2009 |

Property search business PSG Solutions hardly made any profit in the second half of the year to March 2009.

Full year profits fell from £3.24m to £1.33m but nearly all of that profit was made in the first half. At the time of the interim figures FinnCap forecast a full year profit of £1.5m. Revenues fell from £14.5m to £10.1m.

Nearly all the decline came from the property search business. This was partly offset by an improved contribution from surveillance technology company Audiotel, where operating profit improved from £274,000 to £724,000. Audiotelís revenues tend to be volatile so it is difficult to assess whether this is repeatable. Packaging company Moore & Buckle made a lower contribution.

At 23.5p a share, PSG is valued at £6.01m. Net cash is £3.2m.

PSG needs an upturn in the house buying market to significantly improve its figures.

Southwind has a 53.3% stake following its recent mandatory bid of 17.125p a share. 

© 2023 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds