13/12/2001
FFastFill's first year on Aim may have been far from glorious - the exchange trading software developer saw its share price plummet from an initial 175p to 5.75p - but, insists chief executive Chris Stone, the receipt of five new contracts in the past few weeks is reason for optimism. Stone, formerly the group's chief operating officer and head of European operations, took the reins in early October and admits that it has certainly been 'a very interesting year'. Back in April FFastFill was forced to admit that revenue generation had been stunted by a 'technical glitch' in its software and with press and market sentiment hardening towards the company the original management team of Stuart Dawson and Peter Sampson stepped down. This is not to say that FFastFill has been treated too harshly in the past. Indeed, interim figures to 30 September - the day before Dawson and Sampson resigned - showed a £4m loss (£1.2m) from a woeful £317,284 (£257,245) of sales. Stone also concedes that as for new contracts 'in the previous half [we] won literally none'. Only time will tell whether or not FFastFill has really turned the corner, but the anecdotal evidence so far, not to mention a £7.3m cash pile, seems encouraging.
| Market cap: | £2.6m |
| PE Forecast: | n/a |
| Share price: | 5.75p |
| AIM | £24.26m |
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| Other company articles: |
| 30/04/2008 |
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