3 July 2013 – final results
A solid set of results has been posted. Revenue from continued operations in the year to 31 March was up 2% at £225.2m. Profit after tax and exceptional items was £4.1m (2012: £1.4m) and fully diluted earnings per share before exceptional items came in at 7.8p (2012: 6.7p). Net debt edged up to £42.1m but this is under control. We feel that the current share price is a good entry point and rate the shares as a BUY.