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8 Aug 2011 12:00
2011/12 First quarter update
Executive Chairman, Michael Bell will today tell the annual shareholders' meeting of MS INTERNATIONAL plc, that revenue during the first three months of this financial year has been in line with our expectations.
'Defence' continues to prosper buoyed by a higher value of work in hand for output during the current year compared to that held twelve months ago for output in the year ending April 2011.
Pleasingly, both 'Forgings' and 'Petrol Station Forecourt Structures' are continuing to experience a notable upturn in demand, enabling better use of some previously underutilised facilities.
One may recall, that in my year end statement I remarked that 'maintaining general economic momentum in the coming summer holiday period will be critical if the revival is to continue without interruption.' Although we are naturally cautious given the fragility of the current macro-economic, political and financial turmoil, presently we anticipate another year of progress for the Group.
The balance sheet remains strong with net cash and short term deposits.
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