May Gurney Integrated Services – 135p

9 October 2012 – trading update

Our recommendation in the last issue has proved well-timed if today’s trading statement is anything to go by.  Trading in the six months to 30 September has been in line with expectations and the three issues that were highlighted in the profit warning last month have been ring-fenced and are being addressed.  The group has revealed that it has a solid order book worth £1.5bn whilst borrowings are also under control.  The recovery in the share price looks to have further to go.  BUY.

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