10 October 2016 – trading update
The group has announced that it is trading ahead of expectations driven by record orders in August and helped by favourable currency movements. As a result, the year to 30 November is expected to see revenue and adjusted pre-tax profit come in ahead of expectations. The strength of the order book also provides management with confidence for the year ahead and we now expect adjusted pre-tax profits of £9.5m for the current financial year rising to £10.5m in the year to 30 November 2017. Earnings per share on the same basis are expected to be 13.0p rising to 13.6p next time and we re-iterate our recommendation of BUY.