24 November 2010 – interim results

Half year results covering the six months to 30 September 2010 have shown a return to profitability, as we expected. We predicted a couple of weeks ago in Issue 15 that the results would see the recent high of 94p tested and it is likely that the price will remain well above that level. The company now expects to beat market expectations for the full year and appears very upbeat. We retain our BUY recommendation and reiterate our near term price target of 131p.