Dillistone Group (AIM:DSG) an increased dividend fails to impress
The AIM quoted supplier of software and services for the recruitment sector has clearly underwhelmed with its interim results for the six months ended 30 June 2015 and cautious short term outlook, despite lifting the dividend.
Group revenue was up 12% to £4.71m with recurring revenues up 14% to £3.26m. Adjusted operating profits was down 6% to £0.78m and adjusted basic earnings down 7% to 3.31p.
The adjustments reflect intangible amortisation, movements in deferred consideration and other one-off costs relating to acquisitions which came in at £189k in the period.
Operating profit of £586k saw a net operating cash inflow of £1.1m with net cash at period end of £929k (31st…
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