26 September 2018 – trading statement
The group has issued another profit warning due to various project delays and also lower than expected improvements in efficiency. As a result the group’s full year performance to 30 September will be materially below expectations. This is clearly very disappointing and although the group believes that steady growth will be delivered in the new financial year investors will probably want some evidence of this before investing. Final results will be released in early December, but until these have been seen we reduce our recommendation to HOLD.