25 July 2011 – interim management statement

A detailed update has been provided, covering the 16 weeks ended 25 July 2011.  It is pleasing to see that the business is performing well and the share price has reacted positively to the announcement.  Precise numbers have been given for the three months to 3 July 2011, with revenue of £77.0m, up 10% at constant currency and 2% on a reported basis.  Normalised operating profit was £4.1m, up 21% year-on-year at constant currency and 3% on a reported basis.  Net debt was £4.6m, unchanged from the fiancial year end.  The shares are a LONG TERM BUY.