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WIN

  • BY: Andrew Hore |
  • POSTED: 25/03/2009 |

WIN has called off takeover talks because it does not believe that the bidder can raise the required finance for the takeover.

The potential bidder is apparently still trying to raise sufficient funds so WIN is still in an offer period.

Interactive mobile services supplier WIN is focusing on managed services but it has been hit by delays in contracts.

Turnover fell 3% to £8.1m in 2008, while underlying profits before amortisation and exceptional charges declined by nearly one-third to £1.8m. The total dividend for the year was maintained at 2p a share.

Net cash is £3.35m and the business remains cash generative.

Shares in WIN fell 9p to 61p each, valuing the company at £6.15m. 

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