12 May 2017 – AGM statement
The supplier of engineered components to the door and window industry has issued a positive trading update covering the four months to 30 April with revenues up by some 31% over the previous year helped by contributions from acquisitions and the stronger dollar. Although input costs continue to increase the company is seeking to manage these through a combination of effective purchasing. price management and cost reduction programmes. The integration of acquired businesses is proceeding to plan and the year should see the group make further progress. Although the share price has moved up to a new high, the stock still looks reasonable value although we reduce our recommendation to HOLD.