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Mount Engineering

  • BY: Andrew Hore |
  • POSTED: 31/07/2008 |

Mount Engineering says first half trading is in line with expectations.

Redapt and Raxton, which make thread converting adaptors and reducers for explosive and hazardous environments such as oil refineries, performed strongly in the period.

Hi-Flow, a distributor of valves and actuators for the oil and petrochemical industries, has been weaker in the period but the order book has started to recover.

Mount Engineering raised £12.5m at 70p a share when it joined Aim on 6 July 2007.

At 66p a share, Mount is valued at £16.1m.

The interim figures will be released at the end of September.

Blue Oar forecasts full year profits of £3m, against pro forma 2007 profits of £2.55m. That puts the shares on less than eight times prospective earnings. 

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