23 May 2019 – trading update
The company has confirmed that the order delays to which it referred at its AGM in March will mean that certain revenues will now be deferred into the next financial year which starts on 1 October. This is clearly disappointing with the shortfall in this year’s revenue likely to be around £3m although it is important to recognise that the revenue has merely been delayed and not cancelled. The group has also revealed that it has won two new contracts which will generate revenues of £2.5m with deliveries expected to commence at the end of this financial year. The share price has hardly reacted to this news but any significant fall could present a buying opportunity. LONG TERM BUY.