Source - SMW
CEPS reports revenues rose to  £11.9m in the six months to the end of Jine - 29% up on last time. 

The sales figures  include a maiden contribution from Hickton from February and full consolidation of CEM Press.

The overall change is actually made up of a reduction in sales at Davies Odell and increases for Sunline, Friedman's and Aford Awards.  

Gross profit rose by 82% to £2.28m and group costs have risen because of the arrangement fee associated with the loan taken on to buy Hickton.  

This increase in net debt from £1.7m last year to £2.7m at 30 June 2016 is also reflected in the increased finance charge.  

Operating profit has increased marginally to £421,000.  However, this is struck after the costs of the Hickton acquisition of £126,000 have also been deducted.  

These costs are capitalised in the subsidiary holding company, but have to be written off at the CEPS Group level. 

The group says the impact of the fundraising from last year, when the share capital was increased, has also had a major impact on the earnings per share which were 0.09p per share at 30 June 2016 compared to 1.76p at 30 June 2015.

Gearing is 53%, an increase from 31% at the comparable period last year reflecting the loan taken on to acquire Hickton. 


At 9:10am: (LON:CEPS) CEPS PLC share price was 0p at 41p



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