9 February 2010 – trading statement
A detailed update on trading for the year ended 31 January has been provided and despite an exceptionally difficult trading period in the run up to Christmas, it is anticipated that profit before tax for the full year will be marginally ahead of the previous year. This is very encouraging given the fact that in mid 2010 a year-on-year improvement in performance looked unlikely. Although challenges remain, there are further positives such as the signing of a licence agreement with the London 2012 Olympic and Paralympic Games, which could be very beneficial. It may also see wider interest in the shares. We retain our BUY rating.