5 May 2011 – trading update
The group has reported impressive trading in the second quarter of its financial year, covering the three months to 31 March. Group revenues rose by 37% over the same period in 2010 to £33.5m whilst EBITDA emerged at £1.9m, an improvement of £2.7m. Cash balances at the group were £17.8m at the end of March and the company joined the main market from AIM at the end of April. The latter step is seen as key to attracting a greater spread of investors. The group is seeing strong growth across all five divisions in the 17 countries in which it operates and sub-Saharan Africa is attracting growing interest from global investors. The shares are a BUY.