In a trading statement issued on 23 October 2009, the company says trading has continued broadly in line with the trends seen in the first half of the year, with group revenue “modestly ahead” of the nine months to 30 September 2008.

The results had benefited from positive foreign exchange translation. The company added that market conditions in its UK hotel business and Sweden remained similar to those reported at the half-year. Excluding these areas, Davis’ business had grown by 3%.