8 June 2011 – final results
Excellent final results have been reported. Revenue increased by 10% to £24.4m (2010: £22.2m) mainly due to strong growth in the DataSolutions business. Profits before exceptional items, finance revenue, taxation and share based payments increased by 46% to £1.9m versus £1.3m in the previous year. Diluted earnings per share were 2.4p (2010: 1.8p) and the final dividend was lifted from 1.2p to 1.275p per share.
The company has a healthy balance sheet and held cash and cash equivalents of £6.2m at the year end. A strategic relationship with TransUnion has also been announced to offer UK companies instant identity verification for Canadian citizens. There still looks to be plenty of potential for upside and the shares remain a BUY.