31 August 2017 interim results
Interim results for the period ended 30 June 2016 have been released. Revenue was lower at £5.6m (2016: £6.4m) but underlying profit before depreciation and amortisation was £0.04m versus an underlying loss of £0.05m in the same period a year earlier. A basic and diluted loss per share of 0.28p (2016: 0.51p) was incurred. Cash at the period end was £0.1m (2016: £1.2m) although there was said to be strong cash performance post the period end. These are steady rather than spectacular results but the cost base has been reduced and moving forwards there is more cause for optimism. We retain our BUY rating.
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