4 April 2017 – interim results
Slightly disappointing interim results have been released by Utilitywise covering the six months to 31 January 2017. Although there was an increase in revenue of 11% to £46.1m (2016: £41.6m) there was only a modest increase in adjusted profit before taxto £9.4m (2016: £9.1m – as restated). Adjusted fully diluted earnings per share were unchanged at 9.6p (2016: 9.6p – as restated). Closing net debt was £9.6m (2016: £16.8m – as restated). The interim dividend was nudged up from 2.2p per share to 2.3p. The share price has been weak and we feel that at this level the shares remain a BUY.