Motivcom, parent company of event management businesses including P&MM, Zibrant and AYMTM, has released its final results for the year ending 31 December 2012, which show a gross profit of £29,317,000 compared to £29,504,000 in 2011.
The results also revealed a three per cent increase in operating profit to £4,147,000, an increase of four per cent in profit before tax to £4,121,000 and a dividend of 4.5 pence per share, which is an increase of 12.5 per cent on 2011.
“The results from Motivcom show a modest increase on the outcome for 2011, in line with the Board’s expectations outlined in the group’s Interim Announcement,” says Chairman of Motivcom, Colin Lloyd. “The group’s diversified offering has provided resilience in certain areas of the business, as well as securing new client wins during the period.
“The group is cash generative and maintains a strong balance sheet with average net cash of circa £6m. While the group continues to look for earnings enhancing acquisitions, we will not risk overpaying in an uncertain economic environment.
“In the absence of suitable acquisition opportunities, the board has recommended that in the best interests of its shareholders the group will tender to buy 10 per cent of shares in the company at a maximum offer price of 110 pence per share and at a maximum estimated cost of £3.3m,” he adds.
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