Slide 8 of 46

Recent (2003 on) History

  • Defended takeover attempt at 80p a share.

  • Sale of loss making Components Division.

  • Sale of surplus properties and loss making assets generating in excess of £30m.

  • Special dividend of 25p per share.

  • Successful outcome of Conditions of Fitness Review

  • Cash Balance £8.8m at 31st January 2007

  • Purchase of Brewery Road site.

  • Pension deficit reduced from £10m in 2002 to £3.5m at 31st January 2007.

  • Return to Profit- £4.0m consensus PBT this year.

  • Joint venture with Geely Automobile.

  • Launch of TX4 – sales up 40% from launch to 31st January 2007.