This company SWP Group is going nowhere. Two thirds of the group is running at a loss and one unit is bleeding. No word from the Board how to stem the losses but waiting for better times! This is a sell.
24 Mar '11
Financial Results Against a background of depressed market conditions we consider that the results recorded for the six month period to 31st December 2010 are highly resilient and very much in line with the strategic direction in which we are driving this Group forward. Sales revenues have been maintained at £12,702,000 (2009 £12,349,000) an increase of 2.9% in line with expectations. Operating profits before exceptional expenses and the amortisation of acquired intangible assets have remained steady at £1,429,000 (2009 £1,410,000), whilst profits before taxation of £1,154,000 compare with £1,178,000 for the same period in 2009.
An extremely good move for investors. As announced at the time of the publication of SWP's final results, the Company is conducting a capital reorganisation including a bonus issue at a ratio of:10 new ordinary shares of 0.5p each for every 1 existing ordinary share of 0.5p each to all those SWP shareholders on the shareholder register as at 20 January 2010. The capital reorganisation has been approved by shareholders at a General Meeting of the Company. The effect of the bonus issue will be to increase the number of ordinary shares in issue and the holding of each shareholder will be increased on a pro rata basis with a corresponding adjustment to the market price of each share.The bonus issue is taking place in order to reduce the Company's Share Premium Account and increase the Called up Share Capital.On the basis of the current issued ordinary share capital of 18,264,546 ordinary shares, the bonus issue will result in the issue of 182,645,460 bonus shares. Application has today been made to the London Stock Exchange for the new ordinary shares to be admitted to trading on AIM, where ordinary shares of the same class are already traded. It is expected that Admission will be effective and dealing in the ordinary shares will commence on 21 January 2010.
13 Jan '08
With recent Ulva troubles put to bed, this Co is becoming a highly respected and is rumoured to be making significant returns on its offerings, with improved margins. Its subsidiary Crescent of Cambridge is making improved profits hand over fist.
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