17 July 2018 – interim results
Reassuring results have been released for the six months ended 31 May 2018. Revenue edged up from £33.7m to £34.7m and profit before tax on an underlying basis increased from £1.3m to £1.5m. Underlying diluted earnings per share slipped from 6.2p to 5.9p due to a higher tax charge. Net cash as at the period end was £9.1m and the company has been able to increase its interim dividend from 1.0p to 1.2p per share. We rate the shares as a BUY.