16 January 2017 – trading update
The retail, promotional and brand experience specialist has issued a pre-close trading update covering the year ended 31 December 2017. Trading during the final quarter of 2017 was strong, with total revenue for the financial year being in line with market expectations. Due to the mix of revenue from the individual divisions being slightly different to that anticipated, overall profit before taxation will be £100k higher than forecast at around £1.2m. Cash generation was good throughout the financial year and the year end cash position was £2.6m. However, it should be noted that £0.7m of this cash balance had initially been expected to be paid out to clients before the year end, but this did not happen due to timing differences. The adjusted cash balance would have been £1.9m (2016: £0.4m) and it is pleasing to note that all bank debt was repaid during 2017. The company will propose a final dividend of 1.5p per share at the AGM for shareholder approval. Preliminary results are scheduled for release on 26 March and ahead of this announcement the shares must be a BUY.