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Final Results for the year ended 31 March 2009
Thu 9th Jul 09 - 10:00
- Turnover increased by £2.1m to £12.4m up 20%
- Operating Profit increased by 13% to £1.2m
- Profit Before Tax up from £1.39m to £1.41m
- Second Interim dividend retained at 2.75p (2008 -2.75p)
- Normalised EPS growth of 9% from 7.31p to 7.94p
- Cash Reserves increased by 47% from £2.2m to £3.3m
- Contracted revenue growth of 12% to £3.6m
Chairman's Statement by Scott. J. Fletcher:
"I am pleased to report another exceptional year of growth for your business for the trading year ended 31st March 2009. This is the 8th consecutive year that we have been able to report an improved financial performance and in the light of the current economic climate I feel that the achievements of the whole team have been truly outstanding. During the year we have seen an increase in turnover of £2.1m (20%) to £12.4m and, despite pricing pressure, our operating profit performance has shown 13% growth."
"The results have been a reward for the continued focus of the business following our strategic drive to develop our Unified Communications and Collaboration solutions with Cisco and Microsoft, Storage and Virtualisation solutions with VMware and NetApps as well as our traditional Networking and Security business. To support this we have had outstanding growth in our Managed Services division which has now been developed into a fully 24/7 managed service offering, ready to drive the business forward again once more in the coming year."
"To complement our excellent trading performance we have also seen our cash reserves grow by a very healthy £1.0m to leave our cash balance at a record £3.3m at the year end."