26 June 2012 – interim results

The half year results to 30 April have shown strong growth in revenues with these up 58% to £28.6m (2011: £18.1m), whilst adjusted pre-tax profits have risen 54% to £7.3m (2011: £4.7m).  Earnings per share on the same basis have risen by 56% to 1.58p (2011: 1.01p) and the interim dividend was raised by 15% to 0.275p (2011: 0.24p).  Net debt at the group has risen to £12.1m (2011: net cash £4.1m) after making three acquisitions totalling £15.0m.  Further growth is expected going forward but the shares may now consolidate after the strong run of recent months.  HOLD.