23rd May 2016 09:18
LONDON (Alliance News) - Dods (Group) PLC Monday said it believes it is well positioned to meet its financial objectives for its current year, as it reported a swing to a pretax profit for its most recently ended year.
The communication and media services company reported a pretax profit of GBP1.1 million for the year to end-March 2016, swung from a pretax loss of GBP5.0 million the year before, as revenue rose to GBP19.6 million from GBP18.3 million, helped by lower amortisation and impairment expenses.
Dods has been realigning its business under its new business plan, which it said helped improve its gross profit margin in the period to 38% from 29% in the previous year.
Dods said that, as its financial performance improves, it will consider paying dividends in the future, taking into account its available cash resources.
The company's Chief Executive Officer Martin Beck stepped down in March. Guy Cleaver was promoted to chief operating officer, and assumed responsibility over all of Dods' businesses, and Dods plans to finalise the structure of its management team in the near term.
"This was a pivotal year for Dods in the development and early execution of the group's business plan," said Chairman Cheryl Jones in a statement.
Shares in Dods were untraded Monday morning. They last closed at 13.10 pence.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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