22 May 2012 – interim results
Good interim results have been reported by the engineering services group for the six months to 31 March, with revenues up 18% to £183.7m (2011: £155.5m) and adjusted pre-tax profits rising by 95% to £4.4m (2011: £2.3m). Earnings per share on the same basis were 5.45p (2011: 3.1p) an increase of 75% and the dividend was raised slightly to 1.05p (2011; 1.00p). Net debt was reduced to £6.9m (2011: £10.3m). Prospects for the second half of the financial year look strong and we continue to rate the shares as a BUY.