25 June 2013 – final results
In the 12 months ended 31 March turnover edged down to £31.4m (2012: £32.1m). Profit before tax was £3.3m (2012: £3.8m) and earnings per share were 0.1p lower at 10.0p. The final dividend of 1.33p per share takes the total for the year to 2p versus 1p a year earlier. The level of net debt was also reduced by £1.8m to £8.4m. We remain impressed and keep our BUY rating.