News blog
Dillistone Group
- BY: Andrew Hore |
- POSTED: 25/10/2009 |
Executive selection software provider Dillistone Group says that trading is starting to improve after a tough first half’s trading.
Dillistone reported a fall in revenues from £2.52m to £1.82m in the six months to June 2009, while profits halved from £949,000 to £472,000 in the same period. Revenues were slightly lower than the second half of 2008 but profits were similar. Management has successfully cut costs but has not reduced development spending.
The cash pile fell from £2.35m to £1.8m in the six months to the end of June 2009 but it has recovered to £2.2m since then. This cash pile enables Dillistone to confidently say that they will maintain the full year dividend at 10.5p a share even though the dividend cover will fall to around 1.2 times. The dividend costs £567,000 a year.
Dillistone is expected to report a full year fall in profits from £1.4m to £1m in 2009. That represents a small improvement in the second half figures. New orders are being won. Recurring income dominates revenues.
At 130p a share, Dillistone is valued at £7.36m. The yield is 8.1%.
© 2024 Aim Micro. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.
- Browse by issue
- All issues
- Popular tags
- All tags
- AIM Micro feeds
Keep up to date with articles published at AIMMicro.com. Subscribe to AIM Micro RSS Feeds
|