3 October 2011 – trading update
The tube manipulation specialist has announced a trading update for the six months ended 30 September 2012 ahead of entering its close period. In the first half there have been improvements in operating margin and adjusted profit before tax versus the same period last year. Sales for the second half are expected to be at similar levels to the first 6 months and full year profit before tax is expected to be in line with market expectations. Interim results are expected to be released on 3 December and in the meantime we maintain our BUY rating.