Tyman - Strategic progress in all regions

FY18 to date has been in line with management’s full-year expectations, building on the good financial progress delivered in FY17. We believe the competitive position in all three divisions continues to be enhanced via investment and, including post-year end acquisitions of Ashland Hardware and Zoo Hardware, we anticipate further profit growth in FY18 and beyond. There is little appreciation of overseas earnings exposure or the significant strategic strides taken in the current share price, in our view.