6 June 2017 – final results
The group has announced its final results for the year to 31 March 2017 and these have revealed that revenue rose by 16.2% to £138.3m (2016: £119.0m) whilst underlying pre-tax profits increased by 25.9% to £11.0m (2016: £8.8m). Earnings per share on the same basis were 19.8% higher at 12.1p (2016: 10.1p) and no dividend was declared as the company continues to be conscious of its pension fund deficit. The company hopes to recommence dividend payments in the 2018/19 financial year. Net debt at the year end was £26.0m (2016: £24.7m) representing gearing of 36.5% (2016: 47.7%) following capital expenditure of £8.1m. These are clearly excellent results and a confident statement about the current year bodes well. The shares remain a BUY.