21st Century Technology – 11.125p

21 December 2012 – trading update

A very welcome piece of news from 21st Century Technology has revealed that profit before tax for the year will be around £1.8m, 20% above last year.  This profit would also have been higher but due to changes in some bus manufacturer production schedules some orders due to be fulfilled in 2012 will now not take place until early in the New Year.  Subject to cash generation and profitability being maintained, a dividend equivalent to at least one third of pre-tax profit is set to be proposed.  The company has a market capitalisation of just £10.4m and has a strong balance sheet.  At the current level the shares are a STRONG BUY.

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