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Supercart

  • BY: Andrew Hore |
  • POSTED: 28/06/2010 |

Plastic shopping trolley supplier Supercart has won additional orders worth nearly £1m.

They include a £500,000 order in South Africa, a £400,000 plus order for an existing North American customer and two small orders from former Rehrig customers worth £70,000.

Supercart bought trolley designs from Rehrig in 2009. Orders from former Rehrig clients have been slow coming through which has reduced expected cash generation. That is why Supercart needs to raise cash for working capital. Some shareholders have indicated that they are willing to invest in a fundraising.

Net debt was £1.8m at the end of 2009.

Revenues grew from £4.81m to £7.35m in 2009. The loss also rose from £1.2m to £2.17m.

At 5.5p a share, up 1p on the day, Supercart is valued at £3.49m.

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