News blog
TSE Group
- BY: Andrew Hore |
- POSTED: 05/06/2009 |
Switzerland-based sports consultancy TSE Group moved into profit in its first full year as a quoted company.
TSE generated a profit of £32,000 on revenues of £1.1m in 2008. The company lost £244,000 on revenues of £317,000 in the previous nine month period to December 2007.
There is still cash in the bank of £156,000.
TSE provides services to the International Olympic Committee (IOC), UEFA, and international governing bodies for Athletics, Swimming, Archery, Air Sports, Basketball. The consultancy is helping with Chicago’s bid to host the Olympic Games in 2016. The host city for the 2016 games will be decided in Copenhagen in October 2009.
Offices in the US, Denmark, Turkey and South Africa did particularly well but the head office in Lausanne still generates most of the revenues.
TSE has been widening the range of the services it offers. This has helped first quarter trading to be ahead of the same period last year.
Shares in TSE rose 0.055p to 0.28p each, which values the company at £2.27m. The bid/offer spread for the share price is 0.23p/0.33p.
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