The performance for the year to the end of 2007 for plastic shopping trolley manufacturer Supercart has been one of ‘disappointment but also of solid progress’, according to Chairman Victor Segal. Results are staid, pre-tax losses remain similar to the previous year at approximately £0.9m, with losses per share almost halved to 2.59p.

Turnover was increased for 2007 to £3.34m, an improvement of 15.5% and this was mainly driven by the continued strong performance of the company in the South African market, where they have cornered 35 per cent of the retail trolley market. Industrial action at the Durban plant hampered sales in the important fourth quarter, but sales are expected to grow well this year.

The delays in launching the Max 200 product in the US were significant, with this division making a loss. But since launching the product at trade shows in January, live retail trials with a ‘major nation-wide retailer’ are in progress along with trial sample deliveries to 18 others. The company hopes to not miss any more sales opportunities in this critical market. In Europe, sales staff have been newly appointed in Germany, and a distributor deal in Spain has been secured.

While there have been more trials than product launches, due to product development delays, 2008 is already beginning to address this. As Segal notes, ‘We enter 2008 with the availability of six trolleys across four continents, compared with two trolleys in two continents this time last year.’ A placing in December raised £1.56m, which left the company with £1.75m in cash at the year-end and for 2007. A dividend will not be paid and shares currently trade at 12.25p.

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Supercart	AIM	£4.35m	10.00p	0.00p
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