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Pure Wafer: banks supportive!
Posted 23/11/09
The worldwide leader in the provision of wafer reclaim services, issued its Preliminary Results for year ended 30th June 2009. Things appear to be improving!
The Company has one of the world’s most advanced wafer reclaim facilities, and has a “blue chip” customer base that includes most of the world’s largest semiconductor manufacturers and independent foundries.
The Pure Wafer story is very much one of survival at the moment and on that front, following a year of restructuring and board changes, things certainly appear more encouraging.
Turnover for the year was £17.2m (2008: £22.3m) and the operating loss £3.8m (2008: profit of £0.2m). The pre-tax loss was £5.3m (2008: £0.8m) and pre-tax loss before restructuring costs and other gains and losses £4.4m (2008: £0.1m).
Thankfully the cash was still flowing at the operating level with the net cash inflow from operating activities £2.8m (2008: £1.7m).
The greatest concern will have surrounded the group’s banking arrangements. These have now been restructured, with existing debt rescheduled over a six year period, including up to two-year capital moratorium and additional facilities of £1.4m agreed.
The placing and open offer of shares in August raised £2m before costs, with Directors supporting it to the tune of c£300,000.
Management commented that the business is now stabilised and, with significant installed capacity, is ready to take advantage of the upswing in the semiconductor market
A UK business that we should be supporting!
This entry was posted 8 months, 1 week ago and was filed under Puer Wafer.
