Northbridge Industrial Services – 324p

11 April 2013 – final results

A solid set of results has been delivered for the year ended 31 December 2012.  Revenue was £30.8m versus £24.9m in 2011 and profit before tax jumped from £2.89m to £4.88m.  This translated into diluted earnings per share of 23.8p versus 14.9p a year earlier.  The final dividend was lifted by 10% from 3.25p to 3.575p per share, taking the total for the year to 5.425p (2011: 5.0p).  The share price has risen to reflect improved performance but with positive momentum continuing we keep our BUY rating.

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