Bumper full year numbers for Epic

Following the excellent results announcement made by Epic Group plc on July 14th there has been a series of positive articles in the financial press. The Financial Times led with the headline “Epic more than doubling dividend” before continuing with “Epic Group, the online learning company, is more than doubling its dividend after announcing a 53 per cent jump in annual profit.

With turnover 11 per cent higher at £8.1m, pre-tax profits for the year to May 31 increased to £2.09m (£1.36m). The final dividend goes up from 1p to 3.2p for a total of 4.8p (1.8p) from earnings per share of 6.3p (4p).

The company also said that it planned to return not less than £5m to shareholders from cash balances following the recent capital reconstruction. Shareholder returns during the year totalled £3m. The shares closed 11 per cent higher at 86p.”

AFX news reported that “Shares in online learning company Epic Group were in demand, rising 8-1/2 to 86 on the back of bumper full-year numbers and the prospect either of a takeover bid or cash return. Epic said if the offer does not proceed it will be returning a further 5 mln stg to shareholders from cash balances obtained after the group's recent capital reconstruction.

“Turning to the results for the year under review, the board said the balance of work between the private and public sector remains approximately even. Margins have been healthy in both sectors and the group continues to be active in both, it said. Chairman John Gordon said the current year has started satisfactorily in both sectors and the group maintains its position as the leading e-learning company in the UK.”

The Dow Jones also took an interest reporting that “Epic Group said Thursday that for the year to May 31 it reported a profit before tax of GBP2.1 million compared with GBP1.4 million.”