Strong H2 growth in Fleet delivered another excellent year from Quartix. The FY 2016 results are in line with guidance; revenue up 19% to £23.3m and adj. PBT up 10% to £6.7m. Unexpected ‘patent box’ relief reduced the tax charge and boosted FD adj. EPS to 13.0p, 12% up on our forecast 11.6p. The FY dividend of 11.2p is slightly ahead of our 11.0p forecast. Cash generation remains impressive; a further £3.0m FCF in H2 seeing £6.0m in FY 2016 (from £5.4
27 Feb 2017
Focus on Fleet delivers growth and cash
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Focus on Fleet delivers growth and cash
Quartix Technologies PLC (QTX:LON) | 155 7.8 3.2% | Mkt Cap: 75.0m
- Published:
27 Feb 2017 -
Author:
Cavendish Research -
Pages:
12
Strong H2 growth in Fleet delivered another excellent year from Quartix. The FY 2016 results are in line with guidance; revenue up 19% to £23.3m and adj. PBT up 10% to £6.7m. Unexpected ‘patent box’ relief reduced the tax charge and boosted FD adj. EPS to 13.0p, 12% up on our forecast 11.6p. The FY dividend of 11.2p is slightly ahead of our 11.0p forecast. Cash generation remains impressive; a further £3.0m FCF in H2 seeing £6.0m in FY 2016 (from £5.4