24 January 2014 – trading update
The company has provided a trading update ahead of final results on 26 March. Underlying results for 2013 will be in line with guidance provided in September. Order intake in the fourth quarter was described as ‘healthy’ and this means there is a solid opening order book for the new year. The Enterprise Solutions & Defence division traded well in the second half of 2013, securing several new contract wins in the final quarter. The Space division also performed well. Conversely, order intake in the Media & Broadcast division was less impressive. The benefit of restructuring during the second half will be felt fully in 2014. The company is upbeat about its prospects and is also continuing to look at suitable acquisitions. The shares are a BUY.