24 August 2016 – interim results
Results for the first half were broadly in line with expectations. Sales from continuing operations were £35.0m (2015: £39.5m) and underlying profit before tax from continuing operations was £0.1m (2015: £1.3m). Underlying earnings per share from continuing operations were 0.2p (2015: 5.1p). The interim dividend was halved to 1.25p per share (2015: 2.5p). Tony Steels was appointed as Chief Executive in June and a comprehensive review of strategic direction initiated. The company is cautious about trading in the immediate future and has revised its trading expectations for the current year lower. Nevertheless, at this level the shares remain a BUY.