1 February 2011 – interim results

The European Patent and Trade Mark Attorney group has announced its interim results for the six month period to 30 November and these showed a 12% increase in revenues to £16.0m (2009: £14.3m), whilst pre-tax profits were a record £1.79m, up 7% on the previous year’s figure of £1.68m.  Earnings per share were 14.43p (2009: 13.88p) and the interim dividend was raised by 16.7% to 3.5p (2009: 3.0p).  These were impressive figures given the difficult economic environment and the group has delivered strong organic growth.  Murgitroyd now operates from 15 offices in 8 countries and the development of this network is ongoing.  We continue to rate the shares as a LONG TERM BUY.