2 December 2015 – interim results
Following the trading update on 7 October, the group has issued its interim results for the six months to 30 September and these have confirmed that pre-tax profits have risen substantially over the same period last year with adjusted pre-tax profits of £38,000 being reported compared with a loss of £70,000 a year earlier. Although this is clearly pleasing, the company has also revealed that trading towards the end of the period slowed markedly and this trend has continued in the second half. Full year revenue is now likely to be 10% less than last year and although the company has acted to cut costs and hopes to remain profitable at the operating profit level we expect a loss at the pre-tax level. With better investment opportunities elsewhere we move to SELL.