Legion Group23 Nov 2009 15:58
Summary:
The company has recently undergone a massive restructure. This should dramatically reduce the companies cash burn and they are expected to turn a profit on the next results.
Highlights:
Turnover of £28.9m for the year (2008 restated 18-month period: £26.1m)
Gross profit of £4.1m for the year (2008 restated 18-month period: £4.7m)
Acquisition of Legion Group plc transforms the business into a top-ten UK security provider
Strengthened board and management team
Integration plan on track to deliver value to shareholders during 2009/10
Re-branding with a single iconic identity for the enlarged group
Recent trading statement:
http://investegate.co.uk/Article.aspx?id=200910060700062700A
With £155Mill worth of contracts in the pipeline over the next 2 years the future for the company looks very good.
The current market cap is only £12.6Mill at current sp (2.125p) which seems very cheap taking into account the contracts.
A couple of very impressive buys came through on Friday 20th November (1.4Mill (£28,000) and 447,500 (£8,503)).
I feel this company has really turned a corner and will continue to grow.
All IMHO and DYOR. GLA