Very strong performance
Highlights:
· Increase in revenue to £3.66m (H1 2011: £1.24m), reflecting very strong trading performance across the Group
· Adjusted EBITDA* increased to £1.26m (H1 2011: £180k), with Profit Before Tax of £1.13m (H1 2011: £127k)
· Basic Earnings per Share increased to 3.47p (H1 2011: 0.47p)
· Healthy balance sheet maintained. Cash at bank now stands at £5.95m and the business remains debt free. The Group generated £1.26m of cash in the six month period
· Strong visibility on H2 order book resulting in management expectation that full year outturn will exceed current market expectations
· Due to strength of trading and general outlook going forwards the Company announces payment of an interim dividend of 0.2p per share. This maiden dividend signals the adoption of a progressive dividend policy.
· The Group continues to appraise new acquisition opportunities as part of the Company’s broader strategy to consolidate/aggregate complimentary businesses within the optimisation and data capture/reporting field.
John McArthur, Chief Executive Officer, commented:
“These interim results reflect the Group’s continued growth and maturity as a diversified technology company with both revenues and profits increasing significantly against the same period last year. The contribution made by MPEC Technology Limited has been a significant boost and we believe their success demonstrates increasing strength and depth with our market offering. Trading across the rest of the Group has remained strong and Tracsis continues to boast a healthy balance sheet. We remain excited about further growth opportunities, both organic and by way of acquisition.
As a result of recent trading, profitability and general outlook, Tracsis will initiate the start of a progressive dividend policy which our Board believe is sensible and sustainable. This policy endorses our success achieved to date and also our strong belief in the future growth of the business.”
