Financial highlights
Adjusted EBITDA(2) 2008: GBP12.3 million (Pro forma(1) 2007: GBP8 million) – 54% increase
Operating Profit of GBP4.2 million (2007: GBP2 million) – 114% increase
Adjusted basic earnings per share (3) of 6.34 pence (2007: 5.29 pence) – 20% increase
Basic earnings/(loss) per share of (0.43) pence (2007: 1.05 pence) after non-recurring
charges
Net debt as at 31st December 2008 GBP24.1 million (2007: GBP27 million)
Keith Tozzi, chairman said:
“2008 has been a successful year for the business with some significant strategic and operational milestones delivered upon. Progress is illustrated through the delivery of these excellent financial results.”
“Despite the difficult wider macro-economic environment we have been encouraged by the trading performance of the Group in the year to date. We have good visibility over revenues, with approximately half of our sales generated from the public sector and an additional quarter from highly regulated private sector customers.
The Board believes that the Company is successfully delivering on its strategy and looks forward to 2009 with confidence.”
