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(Clarifying that Adsure’s cash balance is down on a year before.)
Adsure Services PLC - Adsure Services PLC - holding company for business assurance services provider TIAA Ltd - Announces results for the financial year ended March 31. Total revenue rises 3.4% to £9.30 million from £8.99 million a year prior. Pretax profit up 72% to £471,000 from £274,000. Earnings before interest, tax, depreciation and amortisation up 33% to £876,000 from £657,000. Cash balance of £1.1 million at March 31 is down from £1.9 million last year. Proposes 0.99 pence dividend subject to approval at October general meeting.
Chief Executive Officer Kevin Limn says: ‘Our growth strategy is underpinned by three defined objectives; to achieve organic growth, enter new markets, and enhance our technological capabilities.
‘Our outlook is promising, and we have excellent visibility over our revenue in the years to come due to the long-term nature of our contracts, which deliver us recurring revenues. We look forward to expanding our relationships with existing customers by providing them with additional services, while welcoming new customers. We are identifying new markets and expect to execute plans to enter these markets in the upcoming period.’
Current share price: 30.00 pence
12-month change: down 33%
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