13 December 2011 – pre-close trading update
Profits after tax for the year to 31 December on continuing operations are expected to be in line with expectations although strong cash flow in the second half of the year has been better than expected. As a result, at the end of November the group had net cash of £2.7m as opposed to net debt of £0.6m at 30 June. The group is continuing to expand its business in the UK and build on its overseas operations and it remains the preferred supplier of on-board CCTV systems to three of the top five bus operators in the UK. This is a very re-assuring statement and we re-iterate our recommendation of BUY.