24 May 2017 – interim results
The software and IT services group has announced its interim results covering the six months to 31 March and these have revealed that turnover has risen by 10.5% to £10.90m (2016: £9.86m) whilst adjusted pre-tax profits were 9.0% higher at £1.45m (2016: £1.33m). Adjusted earnings per share were 4.3% higher at 2.4p (2016: 2.3p) and the interim dividend was raised by 10% to 1.1p (2016: 1.0p). Strong cash flow has allowed net cash at the period end to increase once again to £4.51m (2016: £3.39m). The star performer once again was the Digital Retail division which increased revenues by 20% and we continue to believe that there are interesting prospects in this business. Although the shares have moved up, with adjusted pre-tax profits for the current financial year expected to rise to £3.6m for earnings per share of 5.6p the stock remains ATTRACTIVE.