15 March 2012 – AGM statement

An encouraging AGM statement has been made by the group with good trading momentum being maintained despite the challenging trading environment.  New products released over the last two years continue to be successful and the group plans to increase its investment in its ecommerce software business.  The group has made an encouraging start to the current financial year and up to the end of February order intake is 10% ahead of last year.  Following the sale of Sanderson RBS announced in January, the group now has net cash of £4m and it has announced it intends to raise its dividend for the year to 1.2p, as against forecasts of 1.0p.  We continue to rate the shares as a BUY.