Marketing services provider Hasgrove has grown its income and profit and it is still set to declare its first ever interim dividend.
Gross income from continuing activities is estimated to have grown by 16% to £9m and pre-tax profit is expected to be £700,000, up from £100,000. A full year profit of £1.3m is forecast and the full year dividend yield is just over 7%.
Business has been strong except in the design division where spending by a major client has been delayed.
Net debt has fallen by one-third to £1m and since the end of June an additional €375,000 has been received for last year’s sale of Interel.
At 35p a share, Hasgrove is valued at £8.38m.
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