16 November 2011 – trading update

The company has said that adjusted earnings for the full year are likely to exceed current market expectations.  Since 30 June the company’s operations have continued to generate satisfactory sales and margins.  Deben, in which a 51% interest was acquired in March 2011, has performed strongly and in line with what was anticipated at the time of the acquisition, which is reassuring.  Order intake has remained robust and we therefore remain comfortable with our BUY rating.