5 November 2017 – trading update
The LED lighting and electro-mechanical system manufacturer and distributor has issued a trading update for the year to 30 September which has confirmed that revenues will be at record levels. This is despite the final quarter of the year seeing a reduction in activity due to delays on the Crossrail contract. The group has also confirmed that it will meet market forecasts for the year with pre-tax profits of around £2.1m on the cards for earnings per share of 14.3p. The last year has been exceptional with the current financial year likely to see a return to more normal levels of activity . The group has also announced that it has won a contract worth over £4m to upgrade the lighting on London’s Central and Waterloo & City lines rolling stock. We maintain our recommendation of BUY.