30 April 2014 – trading update
The group has confirmed that it expects profits for the year to 31 March to be in line with expectations, with increases in both sales and operating margins. Operating cash flow has also been strong. The group is also making good progress at its rapidly expanding Chinese operations whilst further investment in its UK operations have helped increase capacity. With pre-tax profits for the year just ended expected to be in the order of £3.8m for earnings of 11.2p and an increase to £4.9m and 13.3p forecast for the current year, the shares remain a BUY.