2 April 2019 – final results
Results for the year ended 31 December 2018 have been released, confirming that this was another year of solid progress. Revenue was up 21% from £11.3m to £13.7m. Adjusted fully diluted earnings per share were 11.7p (2017: 10.7p) and a final dividend of 3.8p (2017: 3.5p) took the total for the year to 7.2p (2017: 6.9p). Net debt was higher at £9.6m following consideration for acquisitions but cash flow from operating activities was £4.6m versus £3.7m in the previous year. The high yield remains a key attraction to holding the shares and we keep our BUY rating.