<strong>GUY HEWETT </strong> INVESTEC<br />&ldquo;The results highlight that there have been no material changes, and the group continues to benefit from growth in new markets. While we expect organic growth to be relatively hard to achieve, given the economic background, security in terms of volumes is relatively defensive.&rdquo;<br /><br /><strong>MIKE ALLEN </strong> PANMURE GORDON<br />&ldquo;Trading remains in line with expectations, and the cash flow dynamics also remain in place, with the company still on track to deliver cash conversion of 85 per cent at the full year. We see little reason to change our forecasts at this stage and reiterate our &ldquo;buy&rdquo; rating.&rdquo;<br /><br /><strong>TONY SHEPARD </strong> CHARLES STANLEY<br />&ldquo;Though we do not anticipate making any changes to our profit estimates, the update is encouraging with the organic growth rate remaining fairly resilient and the group on track to produce a good set of results for the year to December 2009. The shares are not expensive.&rdquo;