11 April 2018 – trading update
The group has issued a trading update for the year to 31 March confirming that trading is in line with the upwardly revised expectations whish were established at the time of the interim results last November. The UK order book stands at £242m at 1 April and this compares with £245m last November and this is a fairly normal level, representing between eight to ten months revenue. The business in India has also continued to perform well although the order book there has fallen to £65m at 1 April from £79m last November. At the end of March the group held net cash of £33m, a similar level to a year previously. This statement is encouraging and the shares remain ATTRACTIVE.