Hunts blue-chip support company on a roll
A HUNTINGDON company that repairs consumer electronic equipment under warranties has become so successful that a major bank has provided a �20million loan facility to fund further growth.
If your Orange or Nokia mobile phone or Virgin Media set-top box goes wrong under warranty, the chances are that it will be repaired by Regenersis on the Hinchingbrooke Park industrial estate.
If your LG washing machine or refrigerator develops an early fault, you will probably also talk to one of the company’s 200 Huntingdon employees.
Across the globe, the firm’s writ now runs to eight countries and a total annual turnover of �140million, if last week’s interim results are reflected across a full year’s trading.
As well as Huntingdon, Regenersis has facilities in Germany, Poland, Romania, South Africa, Turkey, Sweden and Russia, employing a total of 2,500 people.
Revenue has increased by 16 per cent in the past six months, profit by 18 per cent, operating cash-flow two-and-a-half-fold, and the AIM-listed company’s share price has doubled in a year, with market capitalisation standing at more than �37m last week.
It is not just mobile phones and white goods that sustain Regenersis’s growth, but bank ATMs, chip-and-PIN machines and a host of other equipment indispensable to modern commerce.
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Blue chip clients include John Lewis, Amazon, Apple, Nixdorf, Tomtom, Fujitsu and Toshiba.
Now HSBC has come forward with a �20m revolving credit facility to enable Regenersis to grow its business both organically and through acquisition, with a particular focus on overseas emerging markets.
Jeremy Wilson, Regenersis Chief Financial Officer, said: “We are entering an exciting phase and have identified excellent growth opportunities in key emerging markets. Working with a banking partner that understands trading internationally is essential for us and that is why HSBC is a natural fit with our business.”
He told The Hunts Post: “We are feeling very optimistic, and we have a particularly well-run site here in Huntingdon.
“We are one of the market leaders and we are expanding very quickly. That’s why we’ve gone to HSBC.”
INFORMATION: Regenersis is at Kingfisher Way, Hinchingbrooke Business Park, Huntingdon PE29 6FN: telephone: 01480 482866.