Shares in e-commerce venture Totalise plunged 32% as the company delivered a far from inspirational full year report. In the twelve months to April losses surged to £4.4m (£1.9m), despite a 300% rise in revenues to £4.3m. This loss included £1.1m of exceptional costs associated with the launch of several new businesses (two of which have already been closed) and £564,343 worth of restructuring expenses. The worrying signs did not end there, however. Totalise's founder and chief executive, Peter Gregory has provided the company with a further £375,000 of working capital by way of a loan and the guarantee of a bank overdraft. When the company moved from Ofex to Aim almost 12 months ago Gregory helped secure £1.2m of a £2m fundraising by again guaranteeing a loan. Chairman David Bruce's comments that Totalise's board 'hopes to be able to develop the group into a profitable enterprise' also fail to instil much confidence. There were a few positive's though, most notably the extension of a contract between Totalise's car import business 'Eurekar' and Direct Line's e-tailing site 'jamjar.com'. Eurekar has been installed as jamjar's preferred supplier of imported cars for a further two years. This business, along with Flowers2send and communications business Totalise Telecom are all expected to become cash positive this year. Here's hoping.
Market cap: £2.9m
PE Forecast: n/a
Share price: 4.75p
£7,277 That’s what you would have in your portfolio if you had invested £6,000 into the six Company Watch recommendations in our April 2009 issue.
Advertisement
Growth Company Investor, in association with the London Stock Exchange, presents the most wide-ranging and detailed examination of the AIM market: AIM in Review 2010. For more information and to order, click here or contact our marketing team on 020 7250 7056.
M&A on AIM 2009 is a unique and wide-ranging examination of merger and acquisition activity on AIM over the past 12 months, with an analysis of all the acquisitions, disposals, takeovers and delistings on AIM, including
canvassing the opinions of some of the major M&A powerbrokers. To order click here.
Free access to the latest AIM stock recommendations and news from the award-winning Growth Company Investor team. Receive our tips on what stocks to buy direct to your inbox every Tuesday and Friday. Find out more today.
Cautious? Positive? Adventurous? Choose between three levels of risk for a fund of funds from Sharefunds, our sister company. Click here for more information.
The brand new, fully updated AIM Guide 2009/2010 is now available to purchase. AIM Guide is the only fully comprehensive guide to AIM and is regarded as 'must-have' for any serious investor or professional interested in the market for young, fast-growing companies. Order your copy today and benefit from a £10 discount!
This report's principal aim is to provide business owners seeking funding with information about the amount of funds that VCTs have to invest. Click here for more information.
Business XL, the award-winning monthly magazine for growing companies, is delighted to announce the launch of a new study on cash shells. The research provides a comprehensive overview of cash shells on AIM, companies that have become a significant feature on the AIM landscape. Buy the Cash Shells 2009 Research Report today or email Halid Delkic to obtain a free two-page abstract.
Small-cap and growth company share recommendations on AIM- and PLUS-listed companies. Latest analysts' stock tips and advice on which are the best shares to buy on London's junior stock markets.
Advertisement
Energy industry consultant KBC performed resiliently in recession-hit 2009 and entered 2010 with a robust order book.
Organic composting specialist TEG is pursuing long-term contracts after turning £1.6m of annual losses into £155,000 pre-tax profits in calendar 2009.
European Goldfields hopes to move from AIM to the Full List by the end of 2010 after securing a key permit in Romania.