7 June 2017 – final results
Revenue for the year ended 31 March 2017 was 2.8% higher than the previous year, rising from £18.0m to £18.5m. This reflects of new business growth and improved trading towards the end of the period. Second half revenue was 8% up on the first 6 months and 21.5% higher than in the corresponding period a year earlier. Underlying operating profit was £0.497m, up strongly from the previous year (2016: £0.033) and underlying profit before tax for the year was £230k versus a loss of £273k the previous year. Basic earnings per sahre were 0.72p versus a loss of 0.19p per share the previous year. Net debt increased from £2.92m to £3.50m but on the whole the results look very reassuring and suggest that recovery continues apace. BUY.