23 October 2018 – trading update
The group has issued a trading update covering the nine months to 30 September which have shown that group revenues have risen by 54% over the same period last year to £83.7m (2017: £54.5m). Most of the increase is due to acquisitions with only around 7% being organic growth. In the interim results announcement last month the group stated that it had seen a slowdown in the rate of growth whilst a delay on a particular contract would mean that operating profit would be slightly lower than expected. This led to a sharp fall in the share price. More normal rates of growth are now being seen whilst work on the delayed contract has now been resumed – with some directors buying shares recently we therefore feel the shares are a BUY.