12 September 2017 – interim results
The group has announced interim results covering the six months to 30 June showing revenues up 24.8% at £34.2m (2016: £27.4m) with adjusted pre-tax profits rising by 9.9% to £4.22m (2016: £3.84m). Earnings per share fell to 5.22p (2016: 5.91p) due to a higher tax charge and an increase in the number of shares in issue. The interim dividend was raised to 1.93p (2016: 1.84p) as a sign of confidence in the future. Net debt at the period end was £8.4m compared with £14.1m a year earlier due to a fund raising in March that raised £10m. The second half has started strongly and with further growth likely we maintain our recommendation of BUY.