20 February 2012 – trading update
The company has revealed that the positive trends highlighted in its final results for the year to 30 September 2011 have continued into the second quarter of the current financial year. It has stated that benefits of restructuring and refocusing the Middle East business have come through stronger than management anticipated in the current financial year and all other businesses are performing in line with and towards the top end of management expectations.
First quarter trading was also at the top end of management expectations, as had already been relayed to the market, and the company now expects to exceed management expectations for the current financial year. The shares therefore remain a BUY despite recovering further to a 12-month high.