The Group's principal activity is the provision of outsourced car valeting and vehicle preparation service in the United Kingdom. The Group also provides deep cleaning and emergency decontamination services in the United Kingdom. The Group's valeting services are under two principal brands namely Autoclenz and Pinnacle. Autoclenz provides services to daily rental operators and the accident vehicle replacement industry, as well as preparation and valeting services to large volume preparation and refurbishment sites with key customers including Autologic, Avis, British Car Auctions, CD Bramall, National Car Rental, Inchcape and Pendragon. Pinnacle operates for prestige marque dealerships, such as Audi, BMW, Jaguar and Mercedes.
Guardian New Year Tip for 2006
"Autoclenz joined the stock market at the end of last year as a spinoff from chemicals group Yule Catto. Its main business is the unglamorous job of providing valeting services to automotive retailers, auction houses and rental companies - cleaning cars in other words. This is a cash generative business but low margin. The company's other division, React, is likely to be faster growing. React specialises in clearing up after major accidents and terror attacks, cleaning prisons after protests and disposing of abandoned hypodermic needles. Analysts forecast profits will rise from £1.8m in 2004 to £2.3m in 2006. The shares were placed on Aim at 125p and now at 127.5p, they provide a speculative bet."
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