6 December 2010 – interim results
Results for the six months ended 30 September demonstrate ongoing progress. Revenue rose by 26.5% to £16.3m and pre-tax profit jumped by over 40% to £2.10m versus £1.50m last year. Adjusted earnings per share were 7.0p (2009: 4.8p) and net debt was cut from £17.6m as at 30 September 2010 to £14.3m. The shares continue to look very good value despite their strong performance in recent months and we maintain our BUY rating.