News blog
Mount Engineering
- BY: Andrew Hore |
- POSTED: 29/01/2009 |
Mount Engineering says that its 2008 profit will be slightly ahead of expectations at £3.1m.
Hi-Flow, a distributor of valves and actuators for the oil and petrochemical industries, put in a much stronger second half performance thanks to a recovery in its order book.
Demand for the thread converting adaptors and reducers for explosive and hazardous environments, such as oil refineries, weakened but the overall revenues growth was in excess of 10%.
Mount has net cash. It changed its broker and nominated adviser from Blue Oar to Charles Stanley earlier this month.
Management believes that the established businesses and geographic spread of revenues will help Mount to get through the tougher trading expected this year.
The shares rose 2.5p to 57p each, valuing Mount at £13.9m.
The full year figures will be reported on 19 March.
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