Results Round-up
Cloud computing group Nasstar said its annual profits and revenue grew in 2014, as the company met its target of becoming a “commercially focused, profitable and sustainable business".
FTSE AIM All-Share
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16:00 10/01/25
Industrial Engineering
12,126.01
15:54 10/01/25
Nasstar
12.75p
10:34 27/01/20
Software & Computer Services
2,575.28
16:00 10/01/25
Somero Enterprises Inc. (DI)
322.50p
15:05 10/01/25
The London-listed company said pre-tax profit for the year to 31 December jumped from £1m to £7.7m, while revenue surged from £2.5m to £11.2m.
Adjusted earnings before interest, tax, depreciation and amortisation (EBITDA) grew 11% ahead of expectations to £2.3m, while gross margins grew 31% to 69%.
In a statement released on Tuesday, the group said the acquisitions of e-know.net and Kamanchi boosted its performances as they allowed it to benefit from inter-group revenue streams.
Nasstar added that cost consolidation programme within its UK division had ensured the business was no longer in a loss-making position and had contributed to its EBITDA.
E-know.net reported organic growth of 18%, while Kamanchi and Nastar’s UK division saw organic growth of 10% and 5% respectively.
Somero Enterprises, a manufacturer of laser-guided machinery, said it had an "exceptional" trading year thanks to a strong performance in the US and China.
Revenues rose 31.5% to $59.3m while income before tax nearly doubled to $12.4m.
The company said its performance was boosted by an experienced sales team in North America, continued strength of China's economy, and ongoing investment in the Asian market.
Sales in China increased by 44% to $9.5m during the year. Somero expects to triple its revenues in the country by 2018.
Showing confidence in the business, Somero increased its dividend to 4 cents, resulting in a total dividend for the year of 5.5 cents, a 150% rise from the year before