SBS13 Jun 2014 16:11
Broker N+1 Singer which has thus far been pretty spot on, anticipates revenues of £28m for this year, rising to £32m by 2016, which should in turn see pre-tax profits of £3m and £3.5m delivered.
Having previously snapped up Inverclyde Biologicals, SBS subsequently moved for the much larger Vindon healthcare operation stumping up £12.2m for the business, part of which was funded via a well supported placing raising £9.5m.
Although the group is currently in a net debt position due to the acquisitions and expansion programme, it is nevertheless cash generative and profitable. The next few years should deliver a move into a net cash situation of close to £4m, while there will also be sizeable assets, including the Nottingham HQ, by 2017.
Although SBS has been largely focused on the UK, boasting operations that include Cambridge and Oxford, it has also moved further afield. Ireland and Germany have been on its map for some time, while a more recent presence in the US is now presenting serious nearer term upside for the business