News blog
Strontium
- BY: Andrew Hore |
- POSTED: 11/10/2010 |
Small company consultancy Strontium won contracts worth £550,000 in September, making it a record month.
The contracts were won by the NHS-based training company MiAD and management training business The Learning Eye, which has recently set up in Switzerland.
Strontium says that it will make a profit in the year to June 2010. There was also a gain on the disposal of the Australian business.
The company is cash generative and is planning a capital restructuring that will enable it to pay dividends. Net cash was £650,000 at the end of June 2010.
Two of the company’s directors, Michael Metcalfe and Colin Brumpton, have set up a loan facility for Strontium of up to £400,000 for up to four years. The interest charge is 4 percentage points above base rate. Michael Metcalfe owns 28.7% of Strontium and Colin Brumpton owns 15.2%.
Strontium is keen to acquire small services businesses that are growing strongly.
At 14p a share, Strontium is valued at £1.9m.
Full year figures will be published in early December.
Download the October edition of AIM Journal at http://www.hubinvest.com/AIMPDFOctober2010_13.pdf
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