Just four days to go and another Mello at SeaSalt (www.seasaltbeckenham.com) our regular third Monday of the month company presentation and dinner evening. This month we have two companies coming to Mello and our first ever Plus listed company.
Sprue Aegis (SPR.P) are a very successful home safety products supplier and you will almost certainly have seen or used one of their smoke or carbon monoxide detectors in your home. They are based in Coventry and are Europe’s leading home safety products supplier and have developed one of the world’s smallest carbon monoxide sensors for use in CO detectors. Sprue designs and distributes smoke and carbon monoxide detectors including other safety related products throughout Europe under the FireAngel, First Alert, BRK and Dicon brands.
I am pleased to be able to introduce Sprue as I have been a shareholder in the company for nearly four years and there are a number of other people who share my enthusiasm for the company even though its Plus listing may not attract as many investors nor provide the liquidity in its shares that some require. Sprue are not your average Plus company though and display many characteristics and perform far better than your average Aim listed or similar sized small cap company. They even pay a dividend and their growth is highlighted by this paragraph on their website...
In December 2010, Sprue Aegis was again listed on ‘The Sunday Times Virgin Fast Track 100.’ This award in any year is a fantastic achievement, but to gain qualification for three years running demonstrates how strongly the company continues to perform. Fast Track 100 ranks Britain's hundred private companies with the fastest growing sales over the last three years. Sprue Aegis is at number 68 on the 2010 list, up 11 places from the previous year. This has been achieved through exceptional organic growth of 61.9% per annum.
http://www.sprueaegis.com/Investors.aspx
If you want a look at the most recent annual results just released they are very impressive indeed...
Final Results for the year ended 31 December 2010
http://www.investegate.co.uk/Article.aspx?id=20100921103954P...
Financial highlights:
* Turnover increased by 108% to £29.9m (2009: £14.4m)
* Operating profit up 53% to £3.1m (2009: £2.0m)
* Underlying gross margin* of 42.1% (2009: 37.5%)
* Profit before tax up 56% to £3.0m (2009: £1.9m)
* Basic EPS…
I'm showing interest very much at the last minute. Is it ok if I attend? Who do I ask? Who do I inform?
Nigel Martin
