Adj. PBT of £1.5m is 7% ahead of our upgraded expectation and shows 43% y-o-y growth, driven principally through a meaningful improvement in both gross and operating margins. Cash generation meanwhile continued to be very strong with FCF/adj. PAT >100% for the fourth consecutive year. This meant a year-end cash position of £2.1m, of which £0.8m will be distributed to shareholders through an ordinary and special dividend of 1.4p and 6.5p respectively. We upgrade FY18E adj.
08 Jun 2017
Prelims comfortably ahead, 6.5p special div
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Prelims comfortably ahead, 6.5p special div
- Published:
08 Jun 2017 -
Author:
Cavendish Research -
Pages:
4
Adj. PBT of £1.5m is 7% ahead of our upgraded expectation and shows 43% y-o-y growth, driven principally through a meaningful improvement in both gross and operating margins. Cash generation meanwhile continued to be very strong with FCF/adj. PAT >100% for the fourth consecutive year. This meant a year-end cash position of £2.1m, of which £0.8m will be distributed to shareholders through an ordinary and special dividend of 1.4p and 6.5p respectively. We upgrade FY18E adj.