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Energy Technique

  • BY: Andrew Hore |
  • POSTED: 19/08/2013 |

The Energy Technique share price jumped by one-fifth following a positive first quarter trading statement. 

At 92.5p a share, up 12p, Energy Technique is valued at £2.65m. The first quarter profit more than trebled to £86,000 and it is well on its way to surpassing the £200,000 profit reported for the year to March 2013.

Energy Technique is a manufacturer and distributor of fan coils and commercial heating products.

Trading was better than expected. First quarter revenues improved from £1.81m to £2.14m. There was strong growth in fan coil sales as sales and marketing strategy begins to pay off. Since the end of the first quarter, Energy Technique has won a contract worth more than £1m which will be delivered in this financial year.

The company spent £200,000 on buying back shares and, combined with higher working capital requirements due to the higher sales, this meant that cash in the bank has fallen from £590,000 to £212,000

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFAugust2013_47.pdf

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