28 July 2015 – final results
In the year to 30 April, group revenue increased by 16.7% to £234.8m from £201.2m whilst adjusted pre-tax profits rose to £10.6m from £8.8m – earnings per share on the same basis rose to 8.4p from 7.0p. Net debt during the year fell to £13.6m from £15.4m and a total dividend of 4.8p was declared for the year. The year was one of considerable change for the group as it listed on the stockmarket whilst it also won a number of new contracts with companies such as Zara and Pep&Co. The group has a strong pipeline of business opportunities which provide scope for growth going forward and further organic growth is expected in the current financial year. Pre-tax profits for the year to 30 April 2016 are forecast to rise to £13.3m for earnings per share of 10.5p. Following the strong run in the share price we reduce our recommendation to HOLD ahead of a call with management on Thursday.