3 September 2014 – interim results
In the six months to 30 June, group revenues have risen by 11.9% to £4.57m (2013: £4.08m) whilst pre-tax profits rose sharply to £214,000 (2013: £43,000). Earnings per share rose to 0.22p (2013: 0.04p). The group’s strong cash flow, together with some advanced payments, saw cash and cash equivalents increase to over £1.4m at the period end. After a relatively slow start to the year the second quarter saw an improved performance and further progress is expected in the second half which is traditionally the stronger of the two. The group turned down a bid approach during the period as the directors felt that this did not reflect the true value of the company and we continue to rate the shares as a BUY.