News blog
Regenersis
- BY: Andrew Hore |
- POSTED: 19/09/2010 |
Electronic goods repairer Regenersis reported a higher profit in the year to June 2010 as an initial contribution from Total Repair Solutions offset a decline in the equipment recycling business.
Revenues grew from £98.3m to £116.4m. The main growth in revenues came from Poland and TRS. Underlying profit rose from £4.79m to £5.37m.
The business has been reorganised into three divisions which are mobile communications, media and entertainment and information technology. Mobile accounts for two-thirds of revenues.
Regenersis has invested in automated testing equipment to improve its efficiency. House broker Arden forecasts a profit of £5.4m this year.
The lower margin mobile phone recycling services are being run down and that has had a negative effect on working capital in the short-term. This is unwinding over the next few months. Net debt is just short of £4m and it is expected to be a similar figure at the end of June 2011.
At 46.25p a share, Regenersis is valued at £20.7m. The shares are trading on five times prospective earnings for 2010-11.
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