Sigma Capital (LON:SGM) - Revenue & cash in line with forecast
Feb 15th 2013 - Edison Investment Research today published a report on Sigma Capital (SGM.L, LSE:SGM, LON:SGM) entitled "Revenue & Cash In Line With Forecast". In summary, the report says:
Sigma’s trading update confirmed that H212 revenue and operating profit were broadly in line with forecasts. Its property services operations, now the core focus, performed as expected with H212 revenue c 56% up on H1. Cash generation was also on track, with £1m of net cash at the year-end vs £0.7m at end of June. Less positively, slower than expected VC division exits prompted a £0.5m general provision against the carrying values of its holdings in the equity funds it manages and dropped that figure below its share of those funds’ net assets. As a result total FY12 losses will be c £1.3m (FY11: £1.4m loss) vs our previous £0.6m estimate. Part of this relates to the £0.5m provision; we...
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