7 June 2017 – final results
Results for the year to 31 March 2017, which has justifiably been dubbed a ‘transformational year’ by the company, have been released. Revenue increased by 15% to £34.5m (2016: £30.0m). This growth was driven by a particularly strong performance in the Foreign Exchange segment, which grew currency exchanged by 13% to £408m (2016: £362m). Adjusted profit before tax was £4.0m (20116: £2.3m). As indicated in a trading update in April this was well ahead of earlier expectations. Earnings per share, adjusted for the year end shareholding and excluding exceptional IPO costs were 10.1p. A maiden final dividend of 1.3p has been declared and due to be paid in September. The company has a sound balance sheet and excellent prospects for growth, meaning the share price still looks relatively low. BUY.