The company was founded three years ago by chairman Daniel Faughnan. It specialises in the sale, installation and maintenance of Plasma-LCD television, home cinema and audio-visual systems.
The group has three divisions. Plasma Warehouse UK is the consumer division, specialising is Plasma televisions for the home. Plasma 4 Business UK is involved in video conferencing, typically for exhibitions and other corporate events. Finally, Plasma Display Systems UK provides audio visual displays for airports, railways, museums and galleries.
Initially the business was centred on the commercial market and has several large clients including the BBC, ITV and LOreal UK. But as the cost of Plasma televisions has fallen, the group has moved into the consumer market. It has recently expanded its board of directors to include a retail specialist.
The company has established two internet sites to supplement its showroom sales with e-commerce. The company expects to show profits by 2006 and by 2008, it anticipates a network of showrooms throughout the UK and Europe.
One interesting feature is that the company has reached an agreement with a company called FeOnic to resell whispering window technology. This patented technology turns shop windows into loudspeakers and it can be used with Plasma screens to create visual displays to attract shoppers.
When negotiating the agreement, the Plasma Warehouse Group tested whispering window display and found 50 per cent more passers-by looked in the shop window. It is now undertaking a six-month trial of the technology.
Although this EIS is an interesting proposition, as an investment it is high risk. Despite its agreement with FeOnic, whispering window technology is only one aspect of the groups business and there is nothing to stop other companies entering the market.