2 August 2019 – interim results

The group has announced its interim results for the six month period to 30 June and these have revealed that revenues rose by 8.3% to £275.1m (2018: £254.0m) whilst pre-tax profit rose to £11.6m (2018: £3.7m).  Underlying earnings per share rose to 7.7p (2018: 7.6p) and the interim dividend was increased to 1.95p 92018: 1,82p).  Net debt at the period end was slightly higher at £370.2m (2018: £352.9m).  These are pleasing results and although the group is operating in uncertain markets the long term outlook remains promising.  Further organic growth is expected in the UK whilst the US offers significant growth opportunities.  We retain our recommendation of BUY.