20 September 2018 – trading update
A trading update has been released covering the six months ending 30 September 2018. The company had previously noted that the current financial year had started well and has now confirmed that unaudited interim results will show operating profit (stated prior to the impact of transaction costs and amortisation associated with the H Peel acquisition) ahead of prior year results. Given the strength of the order book the company is confident that strong trading will continue for the rest of the financial year. Interim results will be released in mid November and ahead of the news the shares remain very cheap. We keep our STRONG BUY rating.