11 March 2014 – final results
The group has issued impressive results for 2013 with revenue up 8% to £15.0m, whilst adjusted pre-tax profits have increased by 40% to £1.7m, as the operational gearing of the group came into play. Underlying earnings per share were up 44% to 1.3p and the dividend was raised by 21% to 0.52p. The group ended the year with a strong balance sheet and net cash at the year end increased 11% to £13.6m. Clearly, these results have benefited from an improvement in market conditions as well as from the growth in market share to over 7%. An increase in the number of new issues such as Royal Mail combined with the continued low level of interest rates is translating into an increase in the number of new accounts being opened with the first two months of 2014 seeing a rise of 345 in the number compared with 2013. Although the shares have moved up strongly they remain ATTRACTIVE.