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Q1 trading in line with expectations

At May Gurney's AGM on 7 July 2009, David Sterry (pictured), chairman, emphasised the resilience of the company's business model, strong forward order book and optimism for the future.

In his statement at the AGM he said: "During the first three months of the current financial year we have continued to consistently drive business performance, generate cash and ensure future earnings visibility through our strong £1.25 billion order book and healthy pipeline of sales opportunities in our core markets.

"Our business model, predicated on delivering essential cost-effective but added-value front-line services to clients in the public and regulated sectors, has demonstrated resilience in the current challenging economic environment. More than 95% of the business is represented by these dependable long-term contracts.

"With trading in the first quarter in line with management's expectations, bidding processes progressing well, our high visibility of earnings and clear opportunities for growth, we remain optimistic about our prospects for the current financial year and beyond."

All resolutions put forward at the AGM were passed unanimously.