28 March 2012 – final results
An excellent set of results has been released by 21st Century Technology, beating forecasts. Sales rose by 29% to £14.0m (2010: £10.8m) and more importantly profit before tax jumped from £860k to £1.48m. This translated into diluted earnings per share from continuing operations of 1.26p (2010: 0.67p).
At the forthcoming AGM a distribution of 3.5p per share is being proposed. A further dividend is also on the cards within the next 12 months. The freehold property sale in January brought in £2.35m and as at the end of February cash of £4.0m was held. Further growth in profits is forecast and this means that the shares still look good value despite the strong rise. BUY.