LONDON, Jul 24, 2008 ( Shah's financial ) -- SLSLF Quote Chart News PowerRating -- SSL International Plc. said its first quarter trading is in line with expectations with good underlying revenue growth, beneficial exchange rate movement and a strong balance sheet.
"Durex and Scholl, continue to make good progress, driving us towards our target of growing operating profit by at least 10 percent again this year," said chairman Gerald Corbett.
In a trading statement, the consumer products manufacturer said its gross margin is being maintained despite input cost inflation and added that it continues to expect at least a constant gross margin on a full-year basis.
Shah upgrded the stock as BUY maaking target price £500 in his research note.
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