The H1 revenue picture is good with gross income ahead of our expectations and new investments working well in both divisions. While the H1/H2 profit split does vary year to year the business looks to have higher costs than we expected and therefore expect to tweak down our PBT by circa a quarter of a million pounds. The contingent liability taken at the yearend for VAT has been turned into a provision and has edged up from c£0.8m to £1.1m. There is some mutterings about further VAT liabilities ....
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The H1 revenue picture is good with gross income ahead of our expectations and new investments working well in both divisions. While the H1/H2 profit split does vary year to year the business looks to have higher costs than we expected and therefore expect to tweak down our PBT by circa a quarter of a million pounds. The contingent liability taken at the yearend for VAT has been turned into a provision and has edged up from c£0.8m to £1.1m. There is some mutterings about further VAT liabilities ....