News blog

Universe Group

• BY: Andrew Hore |
• POSTED: 18/12/2012 |

House broker finnCap has upgraded its forecasts for payment and online loyalty systems provider Universe Group following a positive trading statement. 

Universe has fulfilled some orders earlier than expected and improved efficiency. The mix of business has also helped margins. All this means that profit will be ahead of expectations.

Forecast 2012 revenues have been edged up from £12.5m to £12.7m, while pre-tax profit has been upgraded by 12% to £800,000. The 2012 figures exclude the manufacturing business that has recently been sold.

At 3.75p a share, Universe is valued at £7.03m. The shares are trading on just over six times prospective earnings – based on a nominal tax rate. Directors and management have been awarded 2.55m share options exercisable at 1p a share – as long as the share price 5p or higher. The options last for ten years.

The 2012 figures will be published in March.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2012_39.pdf