27 November 2017 – interim results
In the six months to 30 September 2017 there was an 18% increase in revenue to £21.8m versus £18.4m in the same period a year earlier and a 63% increase in profit before tax to £5.2m from £3.2m. Basic earnings per share rose from 10.1p to 13.4p. The balance sheet remains strong with net assets of £27.2m, an £8.3m increase from 30 September 2016 and a £3.8m increase from 31 March 2017. The main assets are cash including currency, pawnbroking loans secured on gold jewellery and watches, and retail jewellery stock. Net cash was £13.4m at the period end, up from £9.7m at the same time a year earlier. A maiden interim dividend of 2.2p per share will be paid. We retain our BUY rating.