News blog

Vindon Healthcare

  • BY: Andrew Hore |
  • POSTED: 18/03/2008 |

Vindon Healthcare is on course to move into its new premises before the end of the year. 

The environmental control cabinets manufacturer and storage services provider will increase manufacturing capacity by 50% and storage space will be six times current levels. The new facilities will cost £3.3m - £460,000 has been paid out on the land but the rest will be spent this year.

Turnover grew from £3.84m to £4.99m in 2007 while profits jumped from £972,000 to £1.34m. Last year’s cash raising to finance the new premises means that earnings per share growth was slower – from 0.86p to 1.07p.

The new Irish storage facility is beginning to contribute and equipment has been sold in the US and Belgium. Profits are expected to continue to grow this year, despite the distraction of transferring to new premises.

There is £1.7m cash in the bank although there are also borrowings of £1.33m. The cash in the bank plus cash generated from operations will cover the majority of the cost of the new facility. The existing premises are in the books for £346,000 and should be worth more than that even if they are sold for existing use. There is potential for more uplift if planning permission is obtained for housing.

The shares rose 0.5p to 17p.

© 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 This material may not be published, broadcast, rewritten or redistributed.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