Key Highlights:

• Operational
  • Another set of strong trading results for the Group
    Profits grow for fifth successive six-month period
  • Acquisition of QRO Solutions (“QRO”) successfully completed in April 2016
  • Investment made in expanding the Group’s software development capabilities
  • Order book at 30 June 2016: £12 million (31 Dec 2015: £16 million)
  • Order book increased post 30 June 2016 by receipt of over £4 million of orders including £3 million received from Bombardier Transportation and Hitachi Rail Europe.
• Financial
  • Total revenues increased 22% to £7.4 million (2015: £6.1 million)
  • EBITDA from continuing operations increased 27% to £776,000 (2015: £609,000)
  • Pre-tax profit from continuing operations up 48% to £526,000 (2015: £356,000)
  • Cash balances £2.0m (31 Dec 2015: £2.5 million) and no bank debt after acquisition of QRO
  • Basic EPS increased 32% to 1.36p (2015: 1.03p)
  • Diluted EPS increased 25% to 0.95p (2015: 0.76p)

Commenting on the current outlook, Raschid Abdullah, Chairman, said:

“With the strong results for the half year and the current orders scheduled for delivery in the second half year, the board is confident that the Group is well placed to deliver full year results in line with market expectations.”
 
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