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Universe Group

  • BY: Andrew Hore |
  • POSTED: 05/12/2012 |

Payment and online loyalty systems provider Universe Group is selling the trade and certain assets of its Southampton-based manufacturing business for £65,000 to Hampshire-based Custom Keyboard Electronics Ltd (CKE).

CKE (http://www.ckelectronics.co.uk/index.html) has been trading for more than a decade and Universe’s manufacturing division has been non-core for even longer even though it produces and repairs hardware used by the company’s systems. CKE has a customer base that includes aerospace, automotive and digital broadcasting. CKE will purchase stock from Universe when it is required.

The contract manufacturing operations reduced their interim loss from £208,000 to £158,000. In 2011, the majority of sales came from outside of Universe but there was a 22% reduction in these sales in the first half of 2012.

At 3.25p a share, Universe is valued at £6.09m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFNovember2012_38.pdf

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