30 September 2014 – interim results
This supplier of software and services for the recruitment sector has announced relatively solid interim results for the six months to 30 June although they were adversely affected by exchange rates. Revenues rose by 10% to £4.20m with recurring revenues up by 19% to £2.86m. Adjusted pre-tax profits fell slightly to £0.77m and adjusted earnings per share were down 4% at 3.55p. The interim dividend was raised 4% to 1.3p. The group continues to be debt free with net cash of £1.19m at the end of the period. Dillistone has also agreed to acquire ISV Software to help expand its activities – initial consideration is £0.85m and the group has raised £0.5m net of expenses through a placing of shares at 95p. The shares remain ATTRACTIVE