12 October 2017 – trading update
An update on trading in the first half of the year has been released ahead of interim results, due out on 16 November. Group revenue for the first half is expected to be approximately £144.9m (2016: £128.8m), 12.5% higher than the prior year and 7.1% higher on a constant currency basis. There has been ‘robust performance’ in the UK business and continued growth in the South African business. These figures are in line with expectations and it is pleasing to note that net debt as at 30 September was down to £21m versus £27.5m a year earlier. The shares continue to look very good value and we retain our BUY rating.