Simulation training technology and services provider SimiGon Ltd improved its margins in the first half of 2015.
In the six months to June 2015, revenues fell 19% to $3.5m but this is mainly down to revenue recognition of long-term contracts. However, overheads fell more sharply as R&D spending was lowered and underlying pre-tax profit was 17% higher at $790,000.
SimiGon is still on course to improve full year profit from $1.4m to $1.5m. The dividend could be raised from 0.6 cents a share to 0.7 cents a share.
At 18p a share, SimiGon is valued at £9.2m. the shares are trading on nine times earnings.
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