14 May 2015 – trading statement
To coincide with today’s Annual General Meeting the company has announced that revenues in the first quarter of 2015 are up by 26% with the increase being entirely attributable to the acquisition of Madrox, which is performing ahead of expectations. Revenues at the pre-existing business in Poland are currently reduced due to the loss of a contract in 2014, which has now been replaced by new contracts which will take effect in the second half of 2015. Earnings remain in line with market expectations and with this in mind we keep our BUY rating.