27 June 2017 – trading update
The group has issued a trading update covering the six months to 30 June confirming that trading is ahead of the same period last year in all parts of the continuing group, whilst order intake during the first half has also been ahead of last year. The group’s Canadian business, Langen Packaging Inc., has disposed of its existing manufacturing facility in Ontario for net proceeds of £5.9m and is to move to new leased premises in the same location where it will pay rent of £0.35m a year. This will release funds to invest elsewhere in the business whilst also improving the company’s working environment. This is more good news for the company and we continue to rate the shares a BUY.