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Sagentia Group

  • BY: Andrew Hore |
  • POSTED: 18/02/2010 |

Technology consultancy Sagentia Group had a much stronger second half in 2009.

However, an increased write-down of investments from £1.98m to £3.12m meant that the overall loss rose from £2.21m to £3.46m. Lower consulting fees meant that revenues fell from £29.1m to £23.8m. The loss of the Vodafone mobile payments managed services contract was part of the reason for the decline.

Net debt was £2.69m at the end of 2009 and there is £1.44m of investments held for resale. The net asset value is £12.7m – predominantly made up of its offices and land. At 22p a share, Sagentia is valued at £4.78m.

Sagentia is disposing of non-core businesses so it can concentrate on technology consultancy and IP exploitation.

New chief executive Brent Hudson took over in October 2009. He intends to focus on fewer sectors. The core markets are medical, industrial and consumer.

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