7 February 2012 – trading update
A re-assuring trading update at today’s AGM should serve to provide support for the shares. The group’s largest division, Chesterfield Special Cylinders, has had a positive start to the financial year helped by an increase in activity in the deep water oil rig market which has led to an increase in orders with the result that activity levels should be ahead of market expectations. At Chesterfield Biogas the picture is less positive but overall the group is confident of achieving market expectations for the financial year. With pre-tax profits forecast to be £2.1m in the year to 30 September for earnings per share of 14p, with further growth expected in the following year the shares are a BUY.