1 August 2017 – final results
Results for the year ended 31 March 2017 have been released. There was a 22% increase in revenue to £36.4m (2016: £29.9m) and 421% increase in adjusted EBITDA to £537k (2016: £103k). There was also a 104% increase in net assets to £18.2m (2016: £8.9m), including £4.6m of cash (2016: £3.4m). We continue to rate the shares as a SPECULATIVE BUY.