24 July 2015 – AGM statement
The company has confirmed at its AGM that trading for the period since 31 March has been in line with expectations. Revenue was unchanged at constant currency although down 3% at actual currency rates. Market conditions remain similar to the second half of the last financial year with recovery in the UK and North American markets counterbalanced by weak markets in Asia and Continental Europe. The group continues to restructure its business but we reduce our recommendation to HOLD.