23 September 2011 – interim reults

Disappointing results from the company for the six months to 30 June have seen revenues fall to £7.8m (2010: £8.4m) with pre-tax profits declining to £276k (2010: £604k).  Earnings per share fell to 25.5p (2010: 42.5p) and the interim dividend was reduced to 4.0p (2010: 5.0p).  Although the company’s balance sheet remains in good order there are better investment opportunities elsewhere – SELL