28 June 2018 – trading update
A trading update has been released to coincide with the company’s AGM. This was a detailed statement but the key points are that the order book is buoyant and cash conversion remains strong. The current order book is over £100m and net debt has been reduced down to £1.9m from £5.9m at the end of 2017, which is very encouraging. The company is confident in delivering year-on-year improvement this year and beyond. The shares have had a strong run over the last year or so but this appears to be well justified and we keep our BUY rating.