good progress 8 Jul 2014 08:34
Financial Highlights
· Revenue of £19.8 million (2013 15 months: £18.8 million)
· Like for like revenue, excluding the effect of acquisitions, increased by £2.5 million (17%)
· Gross profit margin at 29%, up from 25%
· Adjusted EBITDA at £1.1 million (2013 15 months: £0.4 million) *
· Like for like Adjusted EBITDA increased by £0.4 million (51%)
· Reported loss before tax £1.5 million (loss £10.6 million in the 15 months to 31 March 2013)
· Net cash of £5.3 million at 31 March 2014 (at 31 March 2013: net cash of £7.0 million)
· Cash generated from operations in the year was £0.4 million; investment in technology - software and hardware - amounted to £1.6 million; settlement of deferred consideration of £0.6 million.
· During the year costs associated with consultancy and people restructuring costs amounted to £0.5 million