3 December 2019 – interim results

Interim results covering the six months ended 30 September 2019 have revealed revenue of £32.5m, up 30% on the adjusted figure of £25.1m for the same period last year.  Profit before tax was £6.2m (2018: £5.0m) and underlying profit before tax £5.7m (2018: £5.1m).  Basic earnings per share were 15.9p (2018: 13.0p) and the interim dividend was increased from 2.4p to 2.7p per share.  Net assets were up £3.1m from the financial year end of 31 March 2019 to £34.0m.  Net cash was £12.3m at the period end, a £4.1m increase from 31 March 2019 due to cash generated from solid trading and stock realisation.  The shares remain a BUY.