4 May 2017 – trading update
The company has announced a trading update ahead of interim results for the six months ended 31 March 2017, which are set to be released on 24 May. Results for the period ending 31 March 2017 were in line with expectations. Revenue was up 10.5% to £10.90m (2016: £9.86m) and operating profit (stated before the amortisation of acquisition-related intangibles, share-based payment charges and acquisition-related costs) increasing to £1.55m (2016: £1.47m). The order book at 31 March 2017 was £2.78m versus £3.02m at 30 September 2016. Net cash as at 31 March 2017 was £4.51m (31 March 2016: £3.39m) reflecting ongoing strong cash generation. We retain our view of LONG TERM BUY.