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Strontium
- BY: Andrew Hore |
- POSTED: 16/03/2009 |
Professional services provider Strontium has moved into profit at the interim stage.
Revenues of 1.1m in the six months to December 2008 were not only higher than the first half of the previous year but more than for the previous 12 months. An interim loss of ã196,000 was turned into a profit of 7,000. Net cash is ã269,000, which is lower than at the end of June 2008 because of the increased level of debtors due to improved revenues.
At 19.5p a share, Strontium is valued at 2.61m.
Strontium has benefited from its own restructuring and a good spread of customers. It is no longer as reliant on its automotive customers. That is why the business communications revenues were lower. Non-clinical medical training revenues grew.
Strontium has put its Strontium Alliance of professional services companies on hold until 2010.
Strontium will focus on increasing revenues from its existing businesses as well as from new products, such as e-learning.
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