Healthcare and business management software group Advanced Computer Software (ACS) said it expects to review its dividend policy by the second half of the current year after it moves into a net cash position. The group did not pay a dividend last year.
During the period, the group scaled down its debt to just £1m, compared with £31.2m the year before.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Organic revenues were up 8%, helped by a significant growing interest in its mobile applications for the health and community care markets (now over 13,000 users), expansion of the mobile solutions markets, and increasing demand for cost-effective, cloud-based shared services and outsourcing solutions.
Earnings before interest, tax, depreciation and amortisation (EBITDA) rose 9% from £22.1m to no less than £24m.
"Our focus for this financial year was to prove the robustness of the business with solid revenue and EBITDA growth, supported by strong cash generation. Our results demonstrate success in all respects," said Chief Executive Vin Murria.
Shares were up 5.54% at 52.9p in early trading on Tuesday.
BC
-
73% of savers plan to rely on partner’s pension in retirementA new survey suggests the majority of people may lack financial independence in retirement, with almost three-quarters set to rely on their partner’s pension
-
How much you need to follow the 25x retirement rule – will you have enough to be financially independent?We explain what the 25x retirement rule is and the amount you would need to be financially independent in retirement.
