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Stagecoach Theatre Arts

  • BY: Andrew Hore |
  • POSTED: 11/08/2010 |

Stagecoach Theatre Arts reported flat revenues and profit for the year to May 2010.

The children’s theatre and dance schools franchise owner reported a profit of £727,000 on revenues of £6.22m. House broker Daniel Stewart expects another flat profit performance this year. This represents a profit downgrade because revenues are likely to be lower than first thought and marketing spending will be higher.

The UK contribution was flat and the international operations made a lower contribution, with Germany falling back into loss. Cost cutting made up for the shortfall in profit contributions.

There were a few Stagecoach school closures and mergers because of the recession. However, the number of students across all the brands increased from 35,326 to 35,394.

The final dividend is unchanged at 2p a share, making an unchanged total dividend of 2.5p a share.

Net cash was £1.12m at the end of May 2010. This cash pile will continue to rise over the coming years.

At 46p a share, up 3.5p, Stagecoach is valued at £4.57m. The shares are trading on nine times 2009-10 earnings. 

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