3 September 2019 – interim results

In the first half of 2019 revenue was up 48% to £9.05m (2018: £6.12m).  Profit before taxation for the period was £2.695m (2018: £2.869m) and adjusted profit before taxation was up 23% to £2.999m (2018: £2.429m).  Adjusted diluted earnings per share were 6.5p (2018: 5.3p).  The interim dividend was maintained at 3.4p per share.  Payment will be on 24 October and the ex-dividend date will be 12 September.  The net cash inflow from operating activities after taxation was £2.366m versus £1.788m in the same period a year earlier.  These are reassuring results and we keep our BUY rating.