19 January 2012 – trading statement
A strong trading statement from the group has confirmed that 2011 was a good year and earnings per share will be ahead of concensus forecast. Although the global economic outlook remains difficult and the year ahead promises much uncertainty, the sectors in which the group operates have been relatively unscathed and with a solid order book, strong balance sheet and a number of new products the group should continue to do well. On a p/e ratio of under 8x for 2011 the shares look GOOD VALUE.