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Scotty Group

  • BY: Andrew Hore |
  • POSTED: 17/11/2008 |

Scotty Group has moved into profit in the year to July 2008.

Revenues grew from £4.77m to £6.79m, while a loss of £765,000 was turned into a profit of £927,000. 

The overhead base has been cut by £1.8m over the past year.

Net cash is £481,000 and this figure was helped by positive exchange rate movements.

The first half of the current financial year will be weaker than the first half of 2007-08. There has been a modest profit in the first quarter. Management expects trading to pick up in the second half as new contracts come through.

The shares rose 1p to 51.5p, which values Scotty at £10.4m.

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