21 March 2017 – final results
Results for 2016 have been released. After strong recovery in the second half of the year turnover was marginally higher at £33.5m (2015: £33.0m). Profit before tax was £3.7m (2015: £6.2m loss). Underlying profit before tax fell 6.1% to £7.8m (2015: £8.3m) but grew by 4.5% in the second half. Underlying earnings per share declined by 32.6% to 9.7p (2015: 14.3p). No final dividend was declared. The results appear to have been well received and we continue to rate the shares as a BUY.