Half year report out today. Share price reacted well to the news.
239p £44m market cap. 10m cash. Healthy asset sheet.
Profits lower than H1 2011 but they have 25% higher value of orders on hand than H2 last year (i wonder if this means they think revenues will be 25% higher than H2 revenues). If so then profit could take a small jump and P/E currently perhaps around 8 would fall to maybe 6 or 5!
Vague I know but I can’t find accurate forecasts and this is a quick glance.
The chairman finishes with a caveat.
“All matters considered, the Board has a good measure of confidence as to the full year outlook for the Group, subject to there being no further deterioration in the global economy that could adversely affect our two industrial engineering divisions.”