26 July 2012 – trading update

The company has satated that despite the rental market for its testing and commissioning activities remaining challenging, it is on course to meet market expectations for the full year.  2012 is likely to prove more seasonal than previous years.  Sales and orders of manufactured units have been strong during the first 6 months.  Rental projects are expected to show a stronger benefit in the second half of the year, partly caused by the late start of contracts which are running in both Australia and the Middle East.  New contracts won following recent acquisitions in transformers and loadcell services will also add to second half revenues.  We retain our BUY rating.