26 September 2017 – interim report
The specialist stockbroking group has announced excellent interim results covering the six months to 30 June, with revenues for the period rising by 91% over the previous year to £29.2m (2016: £15.3m) and pre-tax profits increasing by 156% to £4.2m (2016: £1.7m). Earnings per share rose to 6.1p (2016: 1.2p) and the interim dividend has been increased to 4.5p (2016: 1.0p). Cash held at the period end has declined to £19.8m (2016: £201.m) but is still at a very healthy level. These figures have benefited from an improvement in general market conditions and also the flotation of Eddie Stobart Logistics, which raised £386m in its IPO. The second half has started well and with the shares standing on a very undemanding rating and attractive dividend yield the shares remain a BUY.