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TSE Group

  • BY: Andrew Hore |
  • POSTED: 12/08/2009 |

Switzerland-based sports consultancy TSE Group says that its interim profits nearly doubled.

Profits increased from £55,000 to £101,000 in the six months to June 2009. Revenues rose by one-third to £818,000. The main growth has come from international offices. TSE has opened a new office in Dubai.

A lot of the revenues were generated in the last couple of months of the period. That meant that debtors have increased. There is £69,000 of cash in the bank at the end of June 2009. That should increase in the second half.

Shares in TSE rose 0.005p to 0.23p each, which values the company at £1.82m.

Growth has been organic and 75% of budgeted revenues for 2009 are already contracted. Activity levels remain at record levels. 

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