2 December 2013 – interim results
Interim results for the six months to 30 September have shown a 4.1% increase in revenues to £16.4m whilst adjusted pre-tax profit declined by 4.9% to £1.74m. Earnings per share on the same basis were 2.5% lower at 5.4p. Net debt reduced by £0.5m to £8.1m and, as a sign of confidence in the future, the interim dividend was raised by 51.5% to 1.00p from 0.66p. These are pleasing results with growth in sales and underlying profits and the acquisition made in China since the period end which we commented on at the end of October is a major step forward in the region. Despite the rise in the share price the stock still looks ATTRACTIVE.