14 March 2017 – final results
Results for the year to 31 December 2016 have been released. Revenue was £53.1m (2015: £53.9m) with Technology Products sales up 18.1% to £31.9m (2015: £27.0m) and Electronic Assemblies sales down 21.1% to £21.2m (2015: £26.9m). Normalised profit before tax was up 5.2% to £4.2m (2015: £4.0m) and adjusted earnings per share slipped from 9.9p to 9.1p. Net debt was £3.3m (2015: £4.7m). Statutory earnings per share were 4.9p (2015: 4.2p). A final dividend of 1.95p per share (2015: 1.8p) takes the total for the year to 2.9p per share (2015: 2.7p). The year end order book was strong at £25.8m (2015: £19.0m), underpinned by Technology Products growth. This leaves the company well positioned to improve its financial performance in the current year and we rate the shares as a BUY.