Cinpart
SPECULATIVE BUY
Energy-saving device maker is increasing manufacturing facilities and is expected to break even this year.
Diversified gas ignition system concern Cinpart is expanding facilities for its Active Energy ‘voltage optimising’ joint venture.
The London-based company, which recently raised £730,000 at a lowly 2p to help its subsidiary Active Energy develop the ‘VoltageMaster’, says it expects a new facility to be opened in the West Midlands, to complement its existing Scottish operation. Brainchild of inventor Stephen Coomes, VoltageMaster boasts the potential to save companies, public bodies, hospitals, hotels and the like significant chunks of their electricity bills and to help reduce carbon emissions too, simply by reducing the voltage of power as it is supplied into customers’ premises.
AIM-quoted Cinpart, where director Christopher Foster (erstwhile director of property group Wiggins) has been making much of the running, has 65% of Active Energy, with Coomes’ company SDC Industries holding 25% and PLUS-quoted hotel group Alpha Prospects the remaining 10%.
Foster says Cinpart, which lost money last year, still has the resources to push VoltageMaster, armed with case studies showing its cost-effectiveness and rapid pay-back times for hospitals, schools, sports stadia and elsewhere. Analysts expect sales to surge from 2007’s £2.82m to £20m by 2010, with Cinpart moving from losses to £100,000 pre-tax profits this year, rising to £1m next year and £4.1m in 2011.
At 6.75p, the shares carry risk but have speculative potential.
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Market cap: £4.6m
PE Forecast: 45 (5.8 for 2010)
Share price: 6.75p
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