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Universe Group

  • BY: Andrew Hore |
  • POSTED: 07/04/2011 |

Former Universe Group boss Ray Mackie has taken his stake in the retail and loyalty systems company back above 3%.

Mackie owns 3.06% of Universe. This follows chief executive Paul Cooper and finance director Robert Smeeton each buying 50,000 shares at 2p each. Cooper owns 700,000 shares and Smeeton owns 204,160 shares.

At 2.25p a share, Universe is valued at £2.58m. Investment company Brookwell owns a 10.6% stake in Universe.

Bid talks with Brulines, which owns 3.18% of Universe, were ended on 28 May 2010.

Universe reported a 10% decline in revenues from continuing operations to £11.3m for 2010. A change in the mix of revenues meant that margins improved but the underlying profit fell from £610,000 to £497,000, with the main reason behind the decline being a higher amortisation charge. Capitalised development spending edged down from £327,000 to £318,000.

Petrol Forecourt Systems made an improved profit which offset a lower contribution from Universe Data Systems and a higher loss from contract manufacturing. The JetSet car washing business was sold during the year and there was a £1.24m loss on discontinued activities.

Net debt was £1.99m at the end of 2010.

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