17 November 2010 – trading statement

Trading in the year ending 31 December 2010 has continued to be favourable and adjusted earnings are likely to exceed current market expectations. Sircal Instruments (UK), which was acquired earlier this year, is producing orders, sales and margins in line with expectations. This is an impressive business which goes from strength to strength and the shares must still rank as a BUY despite their significant outperformance of late.