"Real" profits up 27%19 Sep 2012 10:58
The continued focus on working capital management and debt reduction resulted in a strong reduction in net finance charges, of almost 30%, to £0.6m (2011: £0.9m), after which headline profits before tax were 20% higher, at £2.1m (2011: £1.8m).
There were no exceptional items during the period but £0.1m of exceptional restructuring cost was incurred in 2011. After this cost, the year-on-year growth in operating profit was 8%, and in pre-tax profit was 27%.