4 December 2018 – interim results
In the six months to 30 September the group has reported revenues of £27.4m (2017: £30.6m) although pre-tax losses were reduced to £1.5m (2017: loss of £1.9m). Revenues declined due to some low margin business not being repeated and the reduction in losses was partly due to higher levels of interest being received. Regular readers will know the business is highly seasonal, making losses in the first half with the bulk of revenues and profits being generated in the second half. These results are therefore pretty much in line with expectations and with a strong order book we continue to rate the shares a BUY.