4 September 2018 – interim results
The Isle of Man based financial business has made further impressive progress during the first half of the year with pre-tax profits increasing to £1.4m (2017: £0.9m) representing growth of 43%. Basic earnings per share increased by 18% to 0.93p (2017: 0.79p). At the end of the period the group had total assets of £202.7m (2017: £174.3m) with this growth of 17% demonstrating the success of the risk management process in approving loans. Cash and near cash balances stood at £64.7m (2017: £44.3m) thus providing ample funds for further expansion. We continue to believe that the company is not fully understood by investors and that as a result the shares are undervalued. BUY.