28 November 2017 – interim results
In the six months to 30 September 2017 billings increased to £105.5m (2016: £98.3m) and group revenue rose 3.1% to £74.7m (2016: £72.4m). The operating loss was £2.2m (2016: loss £1.6m) reflecting the larger scale of the business and the loss before tax was £1.6m (2016: loss £0.8m). This is a highly seasonal business so there is no need for concern with regards to the loss. With this in mind the dividend was raised 5.3% to 1.00p per share (2016: 0.95p per share). Cash balances peaked at a record £229m (2016: £217m) during the period. The shares are a BUY.