Nice16 Jun 2016 08:24
Another contract and update - looks very good here
"Following today's contract announcement and the phasing of other recently announced contract awards, the Group's Order Book now stands at more than £45 million with delivery currently scheduled as to £17 million in FY2016, £18 million in FY2017 and £10 million in FY2018. The fulfillment of the order book will absorb additional working capital. As a result, and being mindful of other future growth opportunities, the Directors believe that it is in the Company's best interests to retain cash and therefore have decided to suspend the payment of dividends until further notice.
The Company expects to return to profitability in the six months ending 30 June 2016, an outcome which is significantly better than the equivalent period last year. In addition, the Directors expect a further substantial improvement in trading in the second half and, based on the level of the confirmed order book, are confident that trading will exceed current market expectations for each of the financial years ending 31 December 2016 and 2017.
Results for the six months ending 30 June 2016 are expected to be released in the second half of September 2016."