19 April 2018 – AGM statement
At the group’s AGM today, it will report that trading in the first quarter of the year is ahead of last year and in line with expectations. Following the sale of the Instrumentation and Tobacco Machinery business last year the group is now focused on packaging machinery for the food and beverages, pharmaceutical and healthcare markets which offer steady growth opportunities. And, following the sale, it has significant net cash balances of £29.4m which will provide the funds for future expansion both organically and by acquisition. The shares have moved up strongly over the last few months though abd we now believe it would be sensible to lock some gains away and TAKE PROFITS.