15 July 2019 – trading update

The company has reported that in the first half of the year its results are expected to be in line with its KPI targets of underlying revenue growth of 5% and growth in underlying pre-tax profits of 10%  excluding discontinued operations.  These will continue the record of growth over the last eight years.  The group’s net debt at the end of the period was £5.2m compared with £7.8m a year earlier and this was after paying off £3.1m of deferred consideration due on acquisitions from previous years.  The group’s interim results are due to be announced on 25 September.  As in previous years the group expects its profits to be heavily weighted towards the second half of the year and the shares remain a BUY.