16 July 2013 – final results
The group has announced its results for the year to 30 April showing yet further progress. Revenue for the year increased by 63% to £6.51m (2012: £4.00m) helped by the acquisitions of Proquis and Plumtree, with adjusted pre-tax profits rising by 73% to £1.87m (2012: £1.08m). Earnings per share on the same basis rose to 1.57p (2012: 1.17p). This was the fourth consecutive year of growth in adjusted earnings per share and the group also demonstrated strong cash flow from its operations. At the year end, the group had net cash of £6.37m (2012: £1.50m) helped by the share placing at 19p last December. A confident statement regarding prospects bodes well and the group continues to search for acquisitions to expand its operations. We maintain our recommendation of BUY.