8 August 2013 – interim results
Interim results have been released ahead of schedule, principally to warn on the outlook for the second half. Solid figures for the first six months of the year, with earnings per share of 0.40p versus 0.54p last time and a strong net cash position have been overshadowed by a poor outlook. The share price has slumped what looks to be too far and we rate the shares as a STRONG BUY at this level.