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Parity Group confirm revenues are up 3.8%

Highlights

&middot    Group revenues up 3.8% to &pound48.3 million (2013: &pound46.5 million)

&middot    EBITDA before share based charges and non-recurring items up 5.8% to &pound0.69 million (2013: &pound0.65 million)

&middot    Non-recurring items down to &pound0.04m (2013: &pound0.79 million)

&middot    Profit before tax &pound0.12 million (2013: &pound0.52 million loss)

&middot    Cash at period end &pound4.6 million (2013: &pound3.2 million)

&middot    Net debt at period end &pound6.9 million (2013: &pound5.9 million)

&middot    Net assets increased to &pound9.8 million (2013: &pound3.8 million)

&middot    Acquisition of business and assets of Golden Square Post Production, in April 2014

&middot    Launch of Supercommunications division, a new player which bridges the boundary between IT and marketing services

Philip Swinstead, Chairman of Parity, said, "This year we have returned the Group to profitability after six years of losses launched our new SuperCommunications division under the highly experienced marketing leader Andy Law and invested in both divisions to prepare for a period of expansion. We intend to have most of the elements in place by year end and look forward to 2015 and thereafter with some confidence."

 

 

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