There was more good news yesterday. Pre-tax profits for the year to 31 October jumped 37 per cent to pounds 20.1m. Earnings per share expanded similarly and the dividend was raised 19 per cent to 9.5p.
Mr Hultman's strategy has been to cut costs, and the shares, up 16p yesterday at 690p and trading on a prospective p/e of 19, reflect his success. However, future growth will depend on increasing volumes, which will not be easy.
Eurotherm is a strong company, but investors may find better value for money elsewhere.Reuse content