25 May 2012

Imagelinx on track

20/01/2012 Miles Nolan

Following the hiatus last year of losing its major US client P&G, packaging graphics specialist Imagelinx (ILI) has reported it is on track to meet forecasts.

AIM listed Imagelinx has worked hard to slash costs, which has led to exceptional charges in 2011 - with £400,000 due to the US alone. Despite this, it has closed the year with a net cash balance of £500,000, a figure well ahead of house broker finnCap's estimates of £200,000.

After depreciation, amortisation and interest costs Imagelinx still expects to report a small profit, indeed finnCap predicts 2011 sales of £10.6 million and adjusted pre-tax profits of £100,000. Speaking to Growth Company Investor, chief executive Alistair Rae said 'we have secured new business, which should flow through in the current year.'

In the six months to June it maintained sales at £6.07 million, but driven by cost savings it returned to the black with a pre-tax profit of £598,000 (2010: loss of £286,000). Over the last couple of years it has stripped over £4 million from its overheads, which will help future trading results.

The shares have jumped 50 per cent to 1.125p today. As a niche player, there is no listed competitor to benchmark against but Imagelinx is making the right noises and has cut its cloth to match. Speculative.

Tags: AIM market, Graphics, Penny shares, Printed packaging, Trading update

Sector: Support Services

Companies: Imagelinx

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