Hasgrove sounds positive after 65% profit fall

New business wins towards the end of 2009 prompted AIM listed marketing group Hasgrove to sound an optimistic note when reporting a 65% fall in post-tax profit last year.

The post-tax profit was £1.2 million after charging over £1 million of reorganisation costs and bad debts.

The recession had reduced revenues by 11.3% and the group’s operating profit margin on grossincomeslumped to 6.7% (2008: 18.7%).

According to the 31 December balance sheet, short-term liabilities exceeded readily realisable assets by £2.9 million. Net debt had increased slightly to £6.5 million, on top of which outstanding earn-out obligations amounted to £3.7 million. The company said it had bank facilities of £9.2 million at the year end.

© Fintellect Ltd

  • http://www.diet-nutrition-review.com/ diet

    Great post, very informative. I think a lot of people will find this very useful.

  • http://www.tylkodywan.pl Dywany

    Cool story bro …

  • fib llc

    Very helpful post, thanks!

  • http://forstnerbitset.com Shiren jk

    Nice and great statistics.. Thanks.

  • http://www.notebook-riser.com Brownotebook Riser

    It’s work, salute for the post, thanks!