We have refreshed our forecasts following a positive recent H1 pre close statement and are playing a degree of catch up. While our FY26E and FY27E earnings forecasts are largely unchanged, we introduce FY28E estimates and now expect net debt to reduce slightly more quickly. The order book remains healthy at £167.3m, underpinned by strengthening demand from aerospace & defence customers in the US and Europe for precision optics, optical systems and advanced imaging solutions. Further, trading in ....
