News blog
Best of the Best
- BY: Andrew Hore |
- POSTED: 10/06/2014 |
Profit continues to recover at competitions organiser Best of the Best.
In the year to April 2014, Best of the Best increased its revenues from £6.45m to £7m, with most of the growth coming online, while pre-tax profit has jumped from £120,000 to £447,000. The dividend is 10% higher at 1.1p a share.
Net cash improved from £1.95m to £2.36m at the end of April 2014, which was after £541,000 was invested in fixed assets - predominantly £400,000 on the building next to the head office.
Online accounts for 45% of revenues and this is the focus of growth. The competition cycle has been reduced to two weeks and tickets are priced at between £3 and £22. There are also free competitions designed to attract new competitors.
At 72p a share, Best of the Best is valued at £6.6m. The shares are trading on 19 times 2013-14 earnings, while the NAV is £4.29m.
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