20 February 2018 – final results
The financial services group has announced impressive results for the year to 31 December 2017 with revenues up 13% to £54m (2016: £48m) with pre-tax profit rising by 32% to £2.5m (2016: £1.9m). Adjusted earnings per share rose to 1.59p (2016: 1.19p) and the dividend for the year was raised by over 55% to o.42p (2016: 0.27p). Net cash balances at the year end were £8.7m (2016: 8.1m). An interesting feature of the results was the level of recurring income from clients as this increased to £25m (2016: £22m). These are very good results with the increases in both revenues and profits due to organic growth and helped by the contracts which the company has with its affinity groups with 21 contractual relationships at the year end whose aggregate membership totals over 6 million individuals. With further progress likely in the current year the shares remain a BUY.