7 September 2017 – interim results
Results for the six months ended 30 June 2017 have been released, although these are insignificant given the subsequent sale of the Instrumentation & Tobacco Machinery division which completed on 1 August. The net consideration received after fees and taxes is approximately £27.3m. As part of this transaction the right to use the Molins name has been sold and the company will change its name before the end of January 2018. The sale of a property in Canada has also been sold for net proceeds of approximately £5.9m. Some of these funds will be used to develop the remaining business and the company plans to look at potential acquisition opportunities. Given the uncertainty and significant gain on the shares since our tip we are inclined to suggest those still invested TAKE PROFITS.