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Pure Wafer

  • BY: Andrew Hore |
  • POSTED: 22/12/2008 |

Pure Wafer has received a bid approach but it is still early days.

Shares in the silicon wafer reclaim services provider rose 1.5p to 6.5p a share, which values Pure Wafer at £1.73m.

Pure Wafer also reported a move from profit to loss on flat turnover of £22.3m in the year to June 2008. If restructuring costs are excluded, the company went from a profit of £3.2m to a loss of £100,000.

There was a cash inflow from operations because of a reduction in debtors. Investment in fixed assets declined but, at £4.96m is still exceeded depreciation and the cash generated from operations. Net debt is £9.8m and there is deferred consideration of £943,000 for the US business.

The Swansea site has been restructured and capacity increased in the US. The business is more efficient.

Pure Wafer is seeking to widen its product range. The outlook for the semiconductor industry, which is the core customer base, is uncertain although Pure Wafer’s trading started off well in the first half. Prices are still coming under pressure because of overcapacity in the industry. The strength of the US dollar will help this year.

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