Highams Systems Services is continuing its recovery.
The IT and actuarial recruitment consultancy grew revenues by 17% to £4.41m in the six months to September 2010. Pre-tax profit trebled from £40,000 to £123,000.
Highams believes that the recovery will continue in the second half. It appears on course for a full year profit of £300,000, up from £131,000 last year.
Net debt edged down to £190,000 at the end of September 2010.
At 4p a share, up 1p on the day, Highams is valued at £2.76m. the shares are trading on 10 times prospective earnings.
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