6 June 2017 – final results
Results for the year to 31 March 2017 have been released. Revenue was up 14% to £151.8m (2016: £133.5m) and second half revenues were up 10% to £78.3m (2016 £70.9m). Adjusted profit before tax was up 17% to £8.2m (2016: £7.0m) and reported profit before tax was £1.6m (2016: £2.2m). Adjusted diluted earnings per share were up 21% to 11.9p (2016: 9.8p). Reported earnings per share were 3.3p (2016: 4.0p). An increased final dividend of 1.2p (2016: 1.0p), gives a total dividend for the year of 1.8p (2016: 1.5p). Net debt as at 31 March 2017 was £2.5m (31 March 2016: net cash £0.2m).
The company has also announced that Douglas McCormick has been appointed as Chief Executive Officer to succeed Paul Hamer who is taking up the post of Chief Executive at Sir Robert McAlpine Limited. The shares remain a BUY on the back of solid results.