House broker finnCap has upgraded its 2014 profit forecast for SimiGon Ltd from $1.1m to $1.3m following its trading statement.
The simulation training business made a profit of $1m in 2013. Revenues are expected to grow from $8.2m to $8.6m so margins have improved. The dividend is expected to be increased from 0.5 cents to 0.6 cents.
SimiGon should be able to secure follow-on deals from its current contracts.
At 24p a share, up 3p on the day, SimiGon is valued at £12m.
There is still more than $9m in the balance sheet.
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