12 January 2017 – trading update and acquisition
Trading for the year ended 31 December 2016 was broadly in line with market expectations. The company has also acquired the assets of Cable Power Ltd, a specialist manufacturer and distributor of bespoke cable and power products and accessories to Single Board Computing providers, for £0.75m in cash. For the year ended 31 December 2016, Cable Power recorded sales of around £0.7m and profit before interest and tax of approximately £0.1m. We rate the shares as a BUY ahead of full year results on 14 March.