16 September 2010 – interim results
The political communications company has reported interim results to 30 June – excluding the contribution from the Education Division which was sold in March, revenues fell to £6.3m (2009: £7.2m) whilst the normalised loss before tax was £0.6m (2009: loss of £0.1m). The reason for the fall in revenue was the General Election, which created a hiatus and also moved a number of events into the second half. The sale of the Education Division has left the group with net cash of £1.1m at the end of June. In the short-term the outlook for the group is uncertain, with public sector spending cuts having a negative impact although longer term the group is confident of further growth. The group is still in ongoing discussions about a possible offer and in the circumstances the sharees are no more than a HOLD.