29 January 2019 – trading statement

The company has issued a pre-close trading statement for the year to 31 December, and this has shown that revenues were lower than expected due to swine flu in China and challenging trading in the Middle East and South America.  However, costs have been closely managed and the balance sheet remains strong with year end cash balances of £12.9m  (2017: £13.6m).  The company hopes to return to sales growth in 2019 though and we therefore continue to rate the shares as a BUY after the recent share price weakness.