22 March 2016 – final results
A very encouraging set of results has been released for the year to 31 December 2015. Revenue increased by 11% to £61.0m (2014: £55.0m) and profit before tax increased by 12% to £6.0m (2014: £5.4m), translating into basic earnings per share of 4.65p (2014: 4.13p). A dividend per share of 0.65p represented an increase of 30% (2014: 0.50p). Net operating cash flows increased by 45% to £11.1m (2014: £7.7m) and net debt decreased by £1.4m to £4.3m (2014: £5.7m). A £20m bank facility was renewed on 21 March 2016 with an extra £10m specifically to fund acquisitions. This is a solid business which is generating significant levels of cash given the current valuation. BUY.