27 November 2012 – interim results
The group has announced its interim results covering the six months to 30 September revealing a 5% increase in revenue to £103.2m (2011: £98.6m) with adjusted pre-tax profits rising 31% to £5.9m (2011: £4.5m). Earnings per share on the same basis were 39% higher at 2.5p (2011: 1.8p) and strong cash flow has led to an increase in net cash to £8.5m (2011: £7.0m). These are very good results in the circumstances and with the group continuing to focus on higher value, higher margin markets we re-iterate our recommendation of BUY.