The developer and provider of advanced surface coating technology.
12-Dec-2017 – 165.5p – £71.1m – PER 18.2
Trading Update – In-line.
Drifting North since the collapse in May this year. I will remain on the side-lines for now.
30-May-2018 – 164.5p – £70.6m – PER n/a
AGM Statement – First half in-line, encouraged for the second half.
After collapsing from North of 350p in 2016 it’s hard to tell from this statement if it’s back on track. Remaining Neutral, need to wait for more information.
9-Jul-2018 – 205p – £88.0m – PER n/a
Interim Results For The 6 Months To End May 2018 – Revenue up 2.6% to £41.4m (2017: £40.3m), LBT reduced to £1.0m (2017: £5.8m), Net debt £8.5m at period end (2017: £18.5m). Confident of further progress.
Looks like it’s maybe back on track here but would rather see the FY situation before changing my Neutral stance.