Regenersis plans ahead of schedule

THE integration of Scottish tycoon Richard Emanuel's mobile phone repair business into electronics firm Regenersis is ahead of schedule, it said yesterday.

The group acquired Inchinnan-based Total Repair Solutions (TRS) last September in a 6.25 million deal and saw operating profits rise 11 per cent to 5.7m in the year to 30 June. TRS contributed 700,000.

Revenues rose 18 per cent to 116.4m, of which 18.4m came from the TRS business.

Regenersis said TRS had been "successfully integrated" and that the benefits were "starting to show through". Recent business wins include electronics manufacturer LG, courier service DHL and mobile phone giant O2.

Oxford-based Regenersis is among Scotland's largest electronics employers with around 1,100 staff between its Inchinnan site and at Glenrothes, where it repairs laptops, set-top boxes, iPods and satellite navigation systems. TRS, which has been rebranded Regenersis Glasgow, employs 600 at its site close to Glasgow airport.

Jeff Hewitt, chairman of Aim-listed Regenersis, which has three divisions - mobile communications, media and entertainment, and information technology - said TRS was "meeting our expectations".

"All three of our divisions have increased their profitability this year," he said. "Thanks to this progress, our group is now pursuing a strategy for sustainable growth from an increasingly solid foundation."

Trading in the current financial year was "ahead of the equivalent period in the prior year", Hewitt added.

Shares in Regenersis, which has a market capitalisation of 17.7m, closed the day up 1.9 per cent at 40.25p.