29 April 2013 – interim results
Interim results for the six months ended 28 February 2013 were impressive. Total revenue was£179.1m, up from £166.9m a year earlier. Underlying profit before tax was up 27% to £1.4m (2012: £1.1m) and underlying earnings per share were 1.04p (2012: 0.80p). Net debt was £3.0m following £4.2m of acquisitions and group net assets were £22.2m at the period end. A maiden interim dividend of 0.1p per share was declared. The company is performing well at the moment and although the shares have risen since our tip we retain our BUY rating.