News blog

Turbotec Products

• BY: Andrew Hore |
• POSTED: 16/12/2012 |

US-based heat exchanger tubing and components manufacturer Turbotec Products has fallen into loss as it seeks to diversify its product range.

Turbotec continues to move production from Windsor in Connecticut to its new Hickory factory in North Carolina. More than 50% of production has been transferred.

In the six months to September 2012, revenues declined from $11.7m to $10.6m. Volumes were 9% lower as customers cut their own production levels as demand weakened due to the tough housing market. Turbotec swung from profit to loss in the period even if the one-off litigation gain in the previous first half is excluded. The latest loss was mainly down to an inventory write-down.

At 19.25p a share, Turbotec is valued at £2.47m.

Download the latest AIM Journal from http://www.hubinvest.com/AIMPDFDecember2012_39.pdf