Universe Group plc (UNG.L), a supplier of point of sale, payment and loyalty systems, reported Monday that its fiscal 2013 pre-tax profit increased 19 percent to 1.20 million pounds from last year's 1.01 million pounds.
The company, which operates through its subsidiary, HTEC Limited, said its profit after tax grew to 1.33 million pounds from 820 thousand last year, due to the recognition of a 0.18 million deferred tax asset. Basic earnings per share improved to 0.62 pence from 0.58 pence in 2012.
Sales climbed 34 percent to 15.87 million pounds from prior year's 11.85 million pounds, while underlying sales grew 19 percent before benefit of acquisitions.
Robert Goddard, Chairman of Universe, said, "Double-digit growth in sales, operating profit and profit before tax arose from a pleasing combination of organic growth, acquisitions and a high level of project work. Our customers are investing in their businesses and continuing to develop the programmes that we manage for them. The confidence that they have shown in HTEC, in turn gives us confidence in the further profitable growth of the Group."
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