News blog
Secora
- BY: Andrew Hore |
- POSTED: 28/04/2008 |
Investment company Secora is taking a 13.47% stake in fragrance company Miller Harris.
It is investing £350,000 for this stake in a business that was founded in 2000. It generated turnover of £1.3m in the year to March 2007, while the loss was £300,000.
Miller Harris has two stores in London and concessions in department stores in London, New York, Tokyo and Paris. The additional cash will be invested in a new store and product development.
Secora’s chief executive Richard Thompson and finance director Rupert Horner currently own 29% of Miller Harris. This will be diluted to 25%. Thompson says that he will not sell his stake for six months. If he does accept a bid at a higher valuation than Secora’s investment he will make sure it has the ability to sell as well.
The remaining theatrical investment in Billy Elliot the Musical is performing in line with expectations. Profits will be better than expected because of the gain on disposal of Secora’s remaining stake in Premier Exhibitions Inc.
The shares held steady at 10p, valuing the company at £700,000.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|