News blog
Universe Group
- BY: Andrew Hore |
- POSTED: 03/07/2009 |
Lack of capital spending continues to hit Universe Group but it has returned to profit in the first half.
The supplier of payment and loyalty systems says there have been delays and postponements of projects in recent months. Universe still expects to report an operating profit in the first half of 2009 on revenues 10% lower than the first half of 2008. That revenue decline was mainly down to the ending of contract manufacturing operations.
Recurring income is in line with expectations but many larger projects are likely to continue to be delayed. The 2009 revenue forecast of £18.7m from earlier this year will be downgraded. So will profits, although operating profits should be higher this year.
Hoodless Brennan reckons that full year pre-tax profits could be around £400,000 – much lower than originally forecast.
Strong cash generation means that net debt could fall from £3.16m at the end of 2008 to below £2.5m by the end of June 2008.
The figures for the first half of 2009 will be released on 12 August.
Shares in Universe fell 0.5p to 2.25p each, which values the company at £2.58m.
© 2025 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|