20 September 2018 – interim results
The company has announced interim results for the half year to 30 June, noting that it anticipates further year-on-year growth in 2018 and that trading results will be more evenly spread over the two halves of the financial year than in previous years. Revenue was up 13% to £28.7m (2017: £25.3m restated). Adjusted operating profit was £2.5m (2017: £1.2m restated) and adjusted basic earnings per share 6.1p (2017: 1.4p). The order book is approaching £100m (2017: £64m) and net debt was reduced to £3.3m versus £9.0m at the same stage a year earlier. The interim dividend has been increased to 0.65p per share (2017: 0.59p). This is a solid business but it is difficult to see the share price pushing much higher in the near term. BUY ON WEAKNESS.