EDP boosted by ‘robust’ business model

In the year ended September 30, the IT company’s turnover was £5.6m, the same figure as the previous year, despite tough trading conditions.

The full year pre-tax profit was £896,000, an increase on the £584,000 recorded the year before. The latest full year figures include a £335,000 profit which relates to the disposal of the company’s former head office. The final dividend was maintained at 2p per share

Michael Heller, the chairman of EDP, said: “Signs of optimism that we saw in our markets last year have been replaced by uncertainty due to the very real prospects of the UK entering into another recessionary period. As a result, our customers remain cautious about expenditure generally. However, our business model is robust and the strength of our product offering means that we are well-placed to ride out any current uncertainties.”