10/02/2005
Nanotechnology scientific instrument developer Millbrook has attracted three new international orders worth £235,000. The company transferred from OFEX to AIM last December in order to attract more institutional interest. Operating three companies - Millbrook Instruments, Aquila and Micro Materials, with the latter two being recent acquisitions in line with the parent company's buy-and-build strategy in the nanoscience sector - Millbrook supplies various industries including the electronics and biomedical fields, providing tools to measure films and coatings in nanometre dimensions. The latest contracts include two orders for its MiniSIMS instrument, which is a bench top tool that provides a supposedly more efficient way to analyse chemical surfaces. The other order was for its nkd 7000 scanning spectrophotometer for the University of Nanchang in China. Millbrook's instruments vary in price from £50,000 to £150,000 but it also offers a range of additional options that can be purchased upfront or later. Its client base is global with customers including Cambridge University, Kodak and Pfizer. Over the past four years, according to executive chairman Peter Stefanini, organic growth of 90% per year was achieved. Broker Loeb Aron anticipates turnover will be £1.9m for the year to March, rising to £3.2m in 2006. 2005's EDITDA of £100,000 is expected to improve to £500,000 within a year. Interesting stuff, but speculative at this stage.
| Market cap: | £3.58m |
| PE Forecast: | n/a |
| Share price: | 9.5p |
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