17 November 2015 – interim results
Results for the six months ended 30 September 2015 have been released. Although revenue only edged up from £330.5m to £337.1m, there was a jump in profitability. Group reported profit before tax was up 654% at £18.1m and up 42% to £39.9m on an adjusted basis. Diluted earnings per share were 4.6p and 9.3p on an adjusted basis. With an effective 85% ownership of Peppa Pig, there could be some exciting times ahead for shareholders. We retain our BUY rating.