News blog

Swallowfield

• BY: Andrew Hore |
• POSTED: 10/07/2014 |

Personal care and household products supplier Swallowfield says that its full year revenues will grow by 3% even though £2m of business was lost from some customer and this means that the company will return to profitability.

Swallowfield has focused on higher margin business and taking into account the lost business the underlying growth in revenues was more than 7%. Challenging retail conditions are set to continue. This year will benefit from further efficiency improvements and new product development.

Net debt was £5.1m at the end of June 2014, down from £5.7m one year earlier.

At 98.5p a share, Swallowfield is valued at £11.3m.

Results for the year to June 2014 will be published on 18 September.

Edward Beale of 16.5% shareholder Western Selection has joined the board.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFJune2014_57.pdf