News blog

Northbridge Industrial Services

  • BY: Andrew Hore |
  • POSTED: 20/08/2008 |

Northbridge Industrial Services expects trading to continue to be strong for the foreseeable future.

The equipment rental business says that orders are at record levels and trading is ahead of expectations. Profits were expected to increase from £1.63m to £2m this year prior to the trading statement.

It sparked a 6.5p rise in the shares to 151.5p, valuing Northbridge at £11.56m. The shares are only slightly lower than they were six months ago which is a good performance in these markets.

Oil and gas and power businesses are the main customers and that is why Northbridge is doing so well.

The interim figures will be released in the middle of September. Even based on £2m profits for this year, the shares are trading at little more than eight times prospective earnings.

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