4 September 2018 – interim results
The financial services group has announced solid results for the six month period to 30 June with revenues increasing by 5% to £26.88m (2017: £25.67m) and pre-tax profit rising by 12% to £1.26m (2017: £1.13m). Earnings per share rose by 13% to 0.99p (2017: 0.88p) and the interim dividend was increased by 67% to 0.20p (2017: 0.12p). The group continues to generate cash resulting in a closing net cash balance of £9.6m (2017: £8.7m). The results have benefitted from the renewal of various affinity contracts with bodies such as the Royal College of Nursing, the General Federation of Trades Unions and The Money Advice Service. The group now has over 50% of revenue generated on a recurring basis and this proportion continues to increase which is clearly encouraging. The group looks set to continue to make progress given the ongoing demand for financial advice and the increasing demands of the regulator will tend to benefit larger financial services groups such as Lighthouse over smaller competitors. Nevertheless, the share price has risen strongly over recent months and so it may be prudent to TAKE PROFITS.