9 December 2022 - trading update
A trading update has been released to coincide with the company’s Annual General Meeting. Little has changed since final results were released on 8 November. Further input cost inflation is likely but volatility in terms of input costs has reduced. The company is on track for significant growth in terms of turnover in the current year but profit is set to fall. Given that the share price has had a good run there may now be better opportunities elsewhere in the near term. We reduce our rating to HOLD
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