28 February 2012 – final results

Results for the year ended 31 December 2011 have been released, with revenue of £89.9m (2010: £86.4m).  Underlying profit before tax rose from £3.6m to £4.5m and on the same basis earnings per share jumped from 13.9p to 18.3p.  Total dividends were lifted by 0.25p to 5.25p.  Net funds fell from £9.0m to £7.1m but that is still an enviable position.  At the current price the shares remain a BUY.