19 April 2011 – interim management statement
Following our tip to buy the shares at 311.2p last month, an interim management statement has helped move the shares higher. The first quarter of the year has seen continued strong growth, with pre-tax profits increasing to £8.3m (2010: £2.0m), with tight cost control combining with increased revenues and lower impairment charges to achieve this result. The operations in Poland did particularly well, returning to profit after a loss in the same period in 2010. These are clearly excellent results and have set the group up for a good year as it is now focused on growth – despite the share price rise since our tip the shares are still GOOD VALUE.