20 February 2014 – trading update
The company has issued a trading statement for the year to 31 January confirming that full year results are expected to be in line with expectations. In the final quarter of the year revenues rose by 24% with gross profit up by 9%. The group is expected to have ended the year with net cash of £4m, down from £5m a year earlier, but this is impressive given the increase in revenues and necessary increase in working capital. The company should continue to benefit from improving economic conditions and we continue to rate the shares as a BUY.