9 June 2010 – annual results

The software and consultancy group has announced its results for the year to 31 March showing a modest increase in revenue to £9.9m, with pre-tax profit rising by 15% to £2.0m.  Adjusted fully diluted earnings per share rose to 6.2p and again there is no dividend.  Significant new contracts were won during the year and at the end of March the group had net cash of £2.4m.  These were record sales and profits and the new financial year has started well.  The shares remain undervalued and are a BUY.