20th November 2006
Interim Results 2006
Our full financial results for the period ended 30 September 2006 are available for review by clicking on the link below and reviewing Latest Announcements (20 November 2006):
Investor Relations
The financial highlights as reported are below:
* Turnover increased by 83% to £21.84m (2005: £11.95m)
* Underlying organic growth in turnover + 11.4%
* Operating profit* increased by 170% to £1.12m (2005: £0.41m)
* Profit before tax* increased by 148% to £0.67m from £0.27m
* Adjusted earnings per share* increased by 56% to 0.89p (2005: 0.57p)
* Net cash inflow from operating activities of £0.97m (2005: outflow
of £0.34m)
* The trading divisions contributed to operating profit* as follows:
Care £1.12m (Sept 2005: £0.38m)
Services £0.42m (Sept 2005: £0.44m)
Property Services £0.65m (Sept 2005: £0.27m)
* Order book including anticipated revenue from framework contracts
increased by 60% to £85.20m from £53.10m in September 2005
* Recently awarded payroll services contract with St Georges NHS Trust
until March 2007; unsuccessful re-tender for Leicestershire contract
* Increase in banking facilities from £19.00m to £31.88m
* Two key strategic acquisitions completed
* Loss for the period of £0.76m (2005: £0.48m); after charging
amortisation of goodwill and intangible assets of £1.07m (2005 £0.57m)
John Jasper, Executive Chairman, commented 'I am pleased to present such an outstanding set of results, which are in line with our expectations for the first half. Care continues to go from strength to strength with underlying organic growth of 18.5% being delivered. Bernadette Walsh is also making a very
positive impact on the Care business and since her appointment has strengthened her management team. The Group as a whole has also generated almost £1 million in operating cash flow.
'The Board continually assess opportunities to enable our business to improve the nature and range of value added services we offer to clients. The two recent acquisitions will assist in that process. We also enjoy strong support from our investors and bankers to achieve our long term growth strategy in the
BPO sector.'
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