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IS Solutions

  • BY: Andrew Hore |
  • POSTED: 15/02/2013 |

Online technology services provider and software reseller IS Solutions says that trading was in line with expectations in 2012.

Management had been concerned about the underlying economy and longer lead times but all areas of the business grew. Recurring revenues from managed services are 55% of total revenues and 70% of gross profit. There is still net cash in the bank.

House broker finn Cap forecasts a 2012 profit of £900,000, rising to £1.1m in 2013. The dividend is expected to rise to 1.4p a share.

At 39.5p a share, IS Solutions is valued at £9.92m. The shares are trading on 12 times 2012 earnings, falling to 10 in 2013. The yield is 3.6%.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFFebruary2013_41.pdf

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