‘Room for improvement’ warns Regenersis boss

The chairman of Regenersis, Scotland’s second-largest electronics employer, yesterday declared there was “significant potential for improvement” at the gadget repair company – despite posting an 11 per cent rise in full-year operating profit.

Matthew Peacock – who took control of the Aim-quoted firm in February after his activist investment group, Hanover, forced a boardroom reshuffle – said the results for the 12 months to 30 June showed “credible progress” but the benefits of a strategic review would become more apparent over the next year.

Operating profits grew from £5.7 million to £6.3m while sales were up 6 per cent at £123.8m.

There was concern in the summer over jobs at the firm’s Inchinnan site, where it employs about 600 staff, after it lost a major customer, Hutchison 3G UK. Regenersis said yesterday it was “pursuing other potential new business to fill the capacity” at the plant.