News blog

Universe Group

  • BY: Andrew Hore |
  • POSTED: 17/11/2014 |

Payment and loyalty systems supplier Universe Group has extended its contract with Motor Fuel Group (MFG) and supplied systems to the sites it recently acquired. 

MFG operates 288 petrol stations under the BP, Jet and Murco brands and the roll-out of Universe’s point of sale, back office and Gemini Payment Service (GPS) has been completed across 228 Murco sites. There will be ongoing maintenance and technology support revenues.

In the first half of 2014, revenues improved from £6.59m to £8.78m but underlying profit fell from to £716,000 to £331,000. Net capitalised development spending was £225,000. Net debt was £740,000 at the end of June 2014 and there is also deferred consideration of £594,000 and expected contingent consideration of £188,000.

The second half is expected to be strong because of the orders expected to be completed in the period, while low margin work is being shed. There is scope to expand in the convenience store market. The full year profit is forecast to increase from £1.2m to £1.8m.

Dave Stredder has increased his stake in Universe to 3.02%.

At 5.88p a share, up 0.5p, Universe is valued at £13m. The shares are trading on a 2014 prospective multiple of just over seven.

Directors and senior management have been granted options at an exercise price of 5.5p a share and they can be exercised as long as the share price reaches at least 9.5p a share by the end of October 2017.

Download the latest AIM Journal from http://www.hubinvest.com/ AIMPDFNovember2014_62

© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Browse by issue
All issues
Popular tags
All tags

betbrokers, financial, gold, health, leisure, media, mobile, resources, services, technology

AIM Micro feeds

Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds