28 March 2018 – final results
Results for 2017 have been released, showing a significant improvement in performance on revenue which was up marginally at £11.8m (2016: £11.6m). Gross profit was £5.0m (2016: £4.7m) and there was an underlying operating profit of £0.01m versus a £1.4m loss in 2016. Cash at the year end was £0.3m (2016: £0.5m). The cost base was reduced by 18% to £5.1m (2016: £6.2m), providing a good platform to generate profits moving forwards. The shares are a BUY at the current level.