6 November 2019 – trading update

The company has announced a trading update covering the period from 1 July to date and this has confirmed that trading is in line with expectations with revenues and adjusted operating profit ahead of 2018.  This is despite the fact that markets remain challenging with weakness seen in the UK and European markets whilst trading in North America is broadly flat.  The group is seeing the benefit of last year’s acquisitions and with some improvement in operational performance being seen in North America the outlook remains encouraging.  We re-iterate our recommendation of BUY.