24 October 2011 – interim management statement

A pleasing trading statement from Molins has confirmed that order intake is at expected levels and ahead of last year although sales are expected to be heavily weighted to the last quarter as in recent years.  Although this presents an element of doubt, the strong underlying progress at the group provides confidence that full year forecasts can be met and with earnings per share for 2011 likely to emerge at over 14p the shares look cheap.  BUY.