Spring has plenty money in the bank, have change dirrection and continues to see a recovery in its share price on very little volume.

Any followers here with any views?

Final Results are out :-)

SPRING GROUP PLC

2006 PRELIMINARY RESULTS


Spring delivers 5.4 million pre-tax profit compared with 5.5 million loss last
year



Strategic Review sets out three year growth plan



Spring Group plc ('Spring'), the technology staffing and workforce management
company, announces its audited results for the year ended 31 December 2006.



FINANCIAL HIGHLIGHTS

Revenues of 407.3 million in line with expectations (2005: 454.7
million)

Operating profit of 4.6 million (2005: operating loss 5.5 million)

Profit before taxation of 5.4 million (2005: loss before taxation of
5.5 million)

Cash inflow from operating activities of 14.0 million (2005: cash
inflow of 7.1 million)

Basic earnings per share of 3.08 pence (2005: loss per share 3.59 pence)

Final dividend of 0.2 pence (2005: 0.2 pence)

Group net cash 45.6 million (2005: 34.3 million)

Net assets 74.7 million (2005: 70.0 million)



STRATEGIC AND OPERATIONAL HIGHLIGHTS

2006 goals realised:

Group returned to profit

Unprofitable contracts exited

Cost base significantly reduced

Strategic review completed

Investment in new brands and sales consultants commenced

Good Trading Statement today and they look very underated imo. Could see a big bounce with 35 mill in the bank and profit of 7 mill