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Retec Digital
- BY: Andrew Hore |
- POSTED: 28/10/2008 |
Retail screen media provider Retec Digital failed to breakeven in the year to June 2008.
Retec had been expected to breakeven but it did reduce the loss from £843,000 to £339,000. This has prompted a downgrade of expectations for this year.
Charles Stanley forecasts that Retec will increase its revenues from £6.2m to £6.8m - against an original forecast of £9m. The broker still expects Retec to make a profit but, at £100,000, it is lower than originally expected.
The contract with Sainsbury has changed so that revenues are lower but margins are higher.
Net cash was £171,000 at the end of June 2008.
At 1.5p a share, Retec is valued at £2.46m.
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