MBL Group up for sale

MBL Group, the AIM-listed entertainment and gardening products supplier based in Preston, is for sale.

It says it has engaged professional services firm Grant Thornton to conduct a review of its strategic options “with the intention of considering all opportunities for maximizing value for shareholders”.

“The strategic review will be wide ranging and may lead to a corporate transaction such as the company acquiring complementary businesses, acquisition of, or subscription for the Company’s securities by a third party, or a sale of the businesses within the group,” a statement said.

“The purpose of the strategic review is to assess opportunities that will maximise value for shareholders.”

In August, MBL announced it had returned to profit after losses of £883,000 last year, thanks to a strong performance in its garden and home division.

Its results for the year ended March 31 showed the company’s revenue picked up 14% to £14.8m (2015: £13m) and there was an operating profit of £21,000.

Group profit after tax was £75,000 (2015: loss £986,000, including discontinued operations).