11 June 2013 – interim results
A solid set of figures has been released by the company, covering the 26 weeks to 30 March. Revenue was up 30% at £16.4m and pre-tax profit was £1.33m (2012: £0.46m). Basic earnings per share jumped from 3.1p to 8.5p and this allowed the progressive dividend policy to be maintained. An interim dividend of 2.6p was declared versus 2.5p last year. The company is upbeat about the future and it is easy to share this optimism given the latest results. We retain our BUY holding.