1 March 2012 – final results
Another resilient set of figures from office2office justifies our continued support for the stock. Revenue in 2011 was £193.5m (2010: £207.6m) and pre-tax profit was £4.3m versus £4.6m a year earlier. Net debt was cut by £3.7m during the year to £27.7m and the final dividend was held at 7.8p, making an unchanged 11.4p for the year as a whole. The current year has started in line with management expectations and we rate the shares as a BUY.