4 December 2018 – interim results
The international consultancy group reported revenues of £75.3m (2017: £76.2m) in the six months to 30 September, although adjusted pre-tax profits edged up slightly to £765,000 (2017: £735,000). Earnings per share on the same basis were 1.0p for both years and the interim dividend was maintained at 0.6p per share. Although net debt had risen to £13.2m at the end of the period (2017: £10.1m), this is expected to fall to around £10m by the year end. The group’s order book remains strong at £169m (2017: £170m) and this underpins prospects for the second half of the year. With longer term prospects being encouraging we remain happy with our recommendation of BUY.