Simigon (AIM:SIM) - results in line and plenty of cash but can this one ever really get motoring?
The provider of simulation solutions, announced positive interim results for the six months ending 30 June 2015 with an encouraging increase in pre-tax profit albeit on lower revenue. This little business promises a great deal but it remains unclear whether it can really start to motor.
The Israel based group provides Modeling, Simulation & Training solutions to customers worldwide through its innovative SIMbox platform which can be used to create simulation content of any type and for any purpose. For the 6 months to 30th June 2015 net profit increased 18% to $0.79m on lower revenues of $3.46m (H1 2014: $4.37m). The statement clarified that revenues declined from the first half of last year principally as a result of the Company’s revenue recognition policy with respect to its long term contracts and the Board expects to record correspondingly higher revenues for the second half of the…