3 December 2019 – interim results

Interim results have been released, covering the six months to 30 November 2019.  Revenue was up 13% to US$35.7m from US$31.6m.  Pre-tax profit before adjusting items was up 28% at US$1.7m (2018: US$1.3m) and US$1.5m (2018: US$0.8m) after adjusting items.  Basic earnings per share were 0.92c, the equivalent of 0.72p per share versus 0.88c (0.63p) in the same period last year.  Underlying continuing earnings per share (excluding adjusting items) were 1.31c (1.03p), up from 1.08c (0.77p) last year.  The interim dividend was held at 0.25p per share.  The shares remain good value and we see no reason to change our BUY rating.