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Regenersis

  • BY: Andrew Hore |
  • POSTED: 01/12/2009 |

Regenersis says that it is performing in line with expectations.

The electronic goods repairer and recycler is on course to report an increase in profit from 4.7m to 5.5m in the year to June 2010 according to house broker KBC Peel Hunt.

Shares in Regenersis fell 3.5p to 43.5p each, which values the company at 19.5m. The shares are trading at less than five times prospective earnings for 2009-10.

A facility in Nottingham is being closed at a cost of 200,000. The Nottingham facility lost 300,000 in 2008-09. This is part of the integration of the Total Repair Solutions business acquired at the beginning of September 2009.

Net debt was 4.3m at the end of June 2009.

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