London & Boston (LBN) - set to double?

Good luck Recruiter; not sure how this will perform short-term as the results were double-edged to be sure!

But the pro forma group profit after tax for the 6 months was £510,000. Add back the £253,000 of goodwill and you have £763,000 of profit for the 6 months, or over £1.5m for the year.

On an £11.3m m/cap that looks pretty cheap to me.

A lot will depend on whether Audiotel continue to improve in the second half, whether M&B sort out their premises move and whether PSG deliver on the expectation that they'll produce another £1m PBT in H2.

If the above run rate is improved a touch to around £2m per annum, LBN should be a one or two bagger within a year.