21 January 2015 – trading update
The company has issued a positive trading update, confirming that results for the year to 31 December 2014 will be in line with expectations. This would mean pre-tax profits of around £2.7m for earnings per share of 7p. The current financial year is expected to show a significant improvement to £4.2m for earnings per share of over 10.5p. The company has also announced that it is to relocate its manufacturing facility in China to a more modern facility which will significantly enhance its technical capability. This move is expected to cost the group under £1m which will be offset by cost savings and forecast growth in this year and beyond. Despite the positive performance of the shares over the last year which has seen them double they remain a BUY.