28 January 2020 – final results

The LED lighting and electro-mechanical system supplier has announced annual results to 30 September and these revealed a decline in sales to £19.5m (2018: £28.0m) with a loss before tax of £0.24m (2018: profit of £2.0m) being reported.  This was clearly a very challenging year due to project delays across rail markets in both the UK and overseas.  Despite this, the dividend for the year was maintained at 2.9p due to the improving prospects for the company which received record orders last year of £27m. The upturn in the order book has continued in the first quarter of the current financial year and the group therefore looks to the future with confidence.  We believe the shares remain a BUY.