News blog

Universe Group

• BY: Andrew Hore |
• POSTED: 13/09/2012 |

Payment and loyalty systems supplier Universe Group returned to profit in the six months to June 2012 following a restructuring last year.

The share price rose by one-fifth to 2.88p a share, which values Universe at £5.39m.
Even if exceptional costs are stripped, the profit is tripled from £135,000 to £404,000 and there was a significant inflow of cash from operations. Revenues rose 6% to £6m with the solutions division offsetting the decline in the manufacturing division, which continues to lose money, but is also undertaking work for the rest of the company. 

Net debt was £1.05m at the end of June 2012, down from £1.76m at the end of 2011. During August Universe raised £1.57m net at 2.3p a share.

John Scholes has resigned from the board.

House broker finnCap forecasts a rise in underlying profit from £600,000 to £700,000. The shares are trading on a prospective 2012 multiple of six.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFSeptember2012_36.pdf