News blog

Universe Group

• BY: Andrew Hore |
• POSTED: 07/04/2014 |

Payment and loyalty systems supplier Universe Group reported better than expected revenues in 2013 as it starts to benefit from broadening its customer base into convenience stores.

Revenues improved from £11.9m to £15.9m, while pre-tax profit moved ahead from £1.01m to £1.2m. Net debt was £615,000 at the end of 2013 and there is potential deferred and contingent consideration of £1.4m.

There was a high level of project work last year and more is scheduled for this year but the level may not be repeated. Organic revenues growth was 19% and acquisitions contributed £1.8m, which was more than expected. Jeremy Lewis was appointed chief executive during the year.

An enhanced version of the GemPAY payment terminal has been launched.

House broker finnCap has edged up its 2014 profit forecast to £1.8m, helped by full contributions from recent acquisitions.

At 7.38p a share, Universe is valued at £15.7m. The shares are trading on nine times prospective 2014 earnings, although this is based on a nominal tax charge.

Download the latest AIM Journal from http://wwww.hubinvest.com/AIMPDFMarch2014_54.pdf