11 September 2018 – interim results
Interim results have revealed that revenues were up 52.4% in the first half of 2018 to £5.28m (2017: £3.47m), although this is primarily due to the acquisition of Elemental Healthcare. Adjusted EBITDA was £0.94m (2017: £0.83m) and reported profit before tax (after acquisition related amortisation costs and share based payment charges) was £0.09m. This translated into adjusted earnings per share of 0.05p (2017: 0.06p). Net cash at the end of the period was £0.02m versus net debt of £0.73m as at 31 December 2017. We keep our BUY rating.