RDF Announces its full year results
RDF Group plc today announces its full year results for the year to 31 March 2008.
Highlights:
- Sales increased 37% to £30.49m (2007: £22.23m)
- Operating profit from continuing operations, before exceptional items, is £0.97m (2007: £1.40m)
- Operating profit after exceptional items is £0.16m (2007: £1.19m)
- Profit after tax, before exceptional items, is to £0.34m (2007: £0.83m)
- Loss after tax £0.07m (2007: profit after tax £0.75m)
- Earnings per share, before goodwill and exceptional items, is 3.28p (2007:8.00p)
- Loss per share 0.66p (2007: Earnings per share 7.17p)
- Dividends paid in year of £0.13m (2007: £0.21m)
- Net assets per share are 21.48p (2007: 23.20p)
- Cash out flow from operating activities £0.53m (2007: cash inflow £0.49m)
Commenting on the results, David Wood, the Group's Chief Executive, said, "I am pleased to announce RDF's fourth successive year of revenue growth. Whilst disappointed at the small post-tax loss incurred in the year, your Board and I are pleased that the decisions that we took in December 2007 and January 2008 have significantly reduced the impact of one of the Managed Services division's major customers being adversely affected by the ‘credit crunch’. In the last quarter of the financial year, the Group returned positive results. However, the economic climate remains uncertain and your Board does not expect the growth rates achieved in the last few years to continue on an organic basis."
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