22 November 2016 – interim results
Interim results have been released for the six months to 30 September 2016. Revenue for the period was £20.09m (2015: £22.02m). Underlying revenue was flat in the six month period. The higher margin product mix in this period more than offset the loss of the lower margin mobilisation revenue, resulting in an increase in profit before tax to £1.64m (2015: £1.49m). Basic earnings per share were 16.6p (2015: 18.1p). The open order book stood at £14.8m as at 30 September 2016, comprising £12.7m of underlying revenue and £2.1m of Creasefield revenue. Gross profit margins improved to 31.2% (2015: 27.7%). The Group benefited from exchange rate gains in the period. The interim dividend has been maintained at 4.0p (2015: 4.0p). The shares remain a BUY.