13 September 2017 – interim results
In the six months to 30 June the group increased revenue by 14.1% to £3.47m (H1 2106: £3.04m) whilst the group made pre-tax profits of £0.30m (H1 2016: loss of £0.06m). Net cash at the end of the period was £1.16m (31 December 2016: £0.72m). These are good results and are at the upper end of expectations whilst second half trading to date is satisfactory and much as expected. The acquisition of Elemental Healthcare Limited on 1 August is a transformational move by the company and the integration of this is progressing well. There is considerable scope for further expansion at the group and so despite the rise in share price we maintain our recommendation of BUY.