As a result, the company said it expects post a profit for the first half of its fiscal year, which ended December 31. The company also reported a "strong cash position" as of the end of the year, with about 50 million pounds in cash.
According to the company, the North American market represented over 45% of its first half sales, up from 34% for the 15 months reported to June 30, 2002.
As such, the company reaffirmed guidance for the fiscal year, which ends June 30, 2003.
