6 June 2012 – final results

The group has announced its annual results for the year to 31 March, revealing revenues up by almost 28% to £21.8m (2011: £ 17.0m) although pre-tax profits declined to £1.26m (2011: £ 1.31m).  A lower tax charge meant that earnings per share increased to 2.33p (2011: 2.04p).  The dividend was reduced to 2.55p (2011: 3.15p) to reflect the lower profits.  However, the year has been one of transformation for the group with increased on-line expertise and a greater foothold in Europe and with a solid financial position, with net funds of £1.77m (2011; £1.22m), the outlook for the group is very encouraging.  BUY.