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Regenersis losses up despite rise in turnover

MOBILE phone repair firm Regenersis (Glasgow) has seen its losses widen despite a rise in turnover.

The business, called Total Repair Solutions until entrepreneur Richard Emanuel sold it for £6.25 million to AIM-listed Regenersis in mid-2009, reported turnover up from £26.1m to £29.8m in the 12 months to June 30 this year.

Accounts filed at Companies House show the Inchinnan company's pre-tax losses increased from £180,000 to almost £3.5m.

The Renfrewshire firm paid out more than £1.5m on redundancy and restructuring costs and average staff numbers dropped from 565 to 523.

The financial year included the winding down of a contract with mobile operator Hutchison 3G.

In the accounts, the Regenersis (Glasgow) directors said they had not yet filled the spare capacity and were reorganising the activities performed from the site.

However, they noted the site had increased the services it provided to existing customers.

Oxford-based Regenersis – which also has a large laptop computer and set- top box repair operation in Glenrothes, Fife – has contracts with companies such as HTC, Nokia, Samsung, Orange, John Lewis, LG and Toshiba.

Contextual targeting label: 
Consumer electronics

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