26 March 2014 – final results
A solid set of final results has revealed that adjusted earnings per share rose by 31% to 9.3p (2012: 7.1p) in the year ended 31 December 2013. In the current year growth in profits will be balanced out by a higher tax charge but looking to the longer term the business looks well positioned. On balance we continue to rate the shares as a BUY.