Jul 23rd 2012 - Edison Investment Research today published a report on Acal (ACL.L, LSE:ACL, LON:ACL) entitled "Q1 Trading Update". In summary, the report says:
Acal saw an improving order environment in Q113, despite the weak market conditions, as its specialisation strategy drove market share gains. The Q1 revenue y-o-y decline reflects the level of backlog entering the quarter and the weaker euro. We have reduced our revenue forecasts for FY13 and FY14 to reflect both these factors, although we leave our earnings forecasts unchanged as we expect further gross margin and operating cost improvements to compensate.
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