18 October 2016 – final results
In the year to 30 June the company revealed that turnover had increased by 26% to £26.9m (2015: £21.4m) with recurring revenues increasing to 78% (2015: 76%). Pre-tax profits before exceptional items was £7.55m (2015: £6.40m) and declared earnings per share were 1.83p (2105: 1.63p). The group declared a dividend for the year of 0.43p (2015: 0.36p) and has also proposed a special dividend of 0.41p (2015: nil). At the end of the year the group had net cash of £17.3m (2015: £11.9m). These are clearly excellent results and a confident statement for the current year bodes well. Nevertheless, a prospective p/e ratio of almost 30x for the current year is not cheap and we suggest TAKING PROFITS.