13 September 2016 – AGM statement
At today’s AGM the chairman will report that the group is on target to meet full year expectations with its order book standing at £128m at the end of August. The pipeline of orders beyond this and expected contract renewals are grounds for confidence whilst the group also has a strong balance sheet with net cash of £14.4m at the end of August. Although the group is to spend £9m of this on acquiring further stakes in EID and MCL, two of its businesses, this should still leave the group in a strong financial position. We re-iterate our recommendation of BUY.