9 April 2015 – final results
A solid set of figures from NetPlay TV has done little to enthuse the market. Net revenue of £27.4m (2013: £28.5m), feeding through to adjusted earnings per share of 1.09p (2013: 1.68p) makes the current share price look too low given that cash and cash equivalents at the year end increased to £14.2m (2013: £13.9m). This allowed the final dividend to be lifted to 0.33p per share, taking the total for the year to 0.55p from 0.50p last year. Few companies have half their market capitalisation in cash and yield over 6%, even fewer of these trade on a single figure multiple of earnings. BUY.