20 July 2016 – trading update
The group has issued a trading statement revealing that it expects to report a significant increase in both revenues and profits for the first half of 2016, with sales expected to be at least 15% higher. In addition, strong cash flow at the group will see a reduction in borrowings. The group has made good progress on new product development during the period and remains on track to meet full year expectations. These are for pre-tax profits of £20.7m and earnings per share of 2.9p. The shares remain lowly rated and are a BUY.