20 January 2011 – trading statement

The company has stated that adjusted earnings per share for the year ended 31 December 2010 will be materially above market expectations. The order book at the turn of the year was two and a half months, the same as a year earlier. Although some potential challenges have been flagged up, including strengthening Sterling and cuts in European public spending, long term prospects look excellent. On that basis enen though the shares have soared since our initial tip they remain a BUY.