25 September 2019 – AGM statement
The company has released a disappointing trading update, noting that sales and profits were behind expectations in the first four months of the financial year. On a more positive note the company remains profitable and has a strong balance sheet. A ‘satisfactory outcome’ is anticipated for the full year. The shares are not particularly expensive based on fundamentals and we continue to believe that there should be capital growth over the longer term. However, there are better opportunities elsewhere and for now we move to HOLD.