16 October 2025 - trading update

We last commented on the company last week when we suggested the shares were a buy at 294p following a purchase of the shares by a director.  At the time we were forecasting pre-tax profits for the year to 30 November of £5.3m for earnings per share of 25p.  The company has issued a trading statement today which has confirmed that revenues will be around £67m (2024: £55.8m) whilst pre-tax profits are expected to be at least £5.7m.  Earnings per share are therefore likely to be around 27p meaning that . . .

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