14 January 2011 – trading statement

Since we last recommended Kentz at 266p last September, the shares have powered ahead and today’s trading statement reveals why!  The group has seen a strong performance in the second half of the year with significant growth from existing contracts and increased demand for its services producing a very strong final quarter.  As a result both revenues and profits for 2010 are expected to be significantly ahead of market expectations.  The group ended the year with net cash of some US$200m thus providing a firm base from which to continue to expand.  Although given the share price rise some profit-taking may be expected, longer term investors should continue to HOLD.