1 December 2017 – interim results
Interim results have been released although these are a little unusual. Due to a change in contract closure timing, revenue in the first half was down by 53% to £4.7m (2016: £10.0m) and an operating loss of £563k was suffered compared to an operating profit of £1.94m the year earlier. The adjusted fully diluted loss per share was 0.57p versus earnings per share of 5.44p. Net cash at the half-year stood at £3.9m (2016: £0.7m). Taking everything into consideration we rate the shares as a BUY.