PracticeAccounting FirmsNumerica shows small profit in prelim results

Numerica shows small profit in prelim results

Accountancy integrator Numerica today (Tuesday) shrugged off a slow start to its new financial year as it released its first preliminary results since its October AIM listing, showing a profit of £102,000 on a £15.16m turnover.

The group, which signed mid-tier firm Levy Gee as its cornerstone firm last year, released its figures for the eight months to 31 March, although it has only traded since floating five months ago. The figures were in line with analysts expectations.

Chief executive Tony Sarin admitted the first two months of its new financial year had been slow, but he added: ‘Everyone at Numerica is excited about our future prospects and can see the huge potential of what we can achieve over the next few years.’

Basic earnings per share before goodwill amortisation was 2.90p, while the company has not proposed a dividend for the period.

The group revealed it has a £25m war chest for further acquisitions, likely to be made in Scotland and the north of England, including a debt facility of £20m, as it continues its surge towards top 10 status. The companies share price was unchanged today at 116.5p.

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