30 May 2013 – AGM statement

The document management and office relocation business has issued a positive AGM statement confirming that 2013 has started well with trading in line with expectations.  Acquisitions made last year have been successfully integrated whilst the integration of acquisitions made earlier this year is underway.  The group remains highly cash generative and has a healthy financial position and further strong progress is expected this year.  A one-off bad debt of up to £800,000, caused by a legacy contract with a recent acquisition, should not deter potential investors and with pre-tax profits of £9.5m on the cards for the full year for earnings per share of some 10p, the shares remain a LONG TERM BUY.