Plexus continues share surge as profits leap
Plexus, the specialist oil and gas wellhead engineer, says new contract wins and repeat business from old customers drove profits in the six months to the end of December.
Plexus, the specialist oil and gas wellhead engineer, says new contract wins and repeat business from old customers drove profits in the six months to the end of December.
Turnover increased 24% over the period of 2010 to £9.3m, while earnings before interest, tax depreciation and amortisation (EBITDA) grew 17% to £3.0m. Profits before tax increased 33% to £1.5m. The interim dividend has been increased by 11.4% to 0.39p per share.
Since the year end Plexus has raised £6.2m in a share placing.
MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Plexus is now aiming to produce a new type of subsea wellhead, to build on the success of its "friction-grip" land based system.
The group's Chief Executive, Ben van Bilderbeek said: "there is an increasing recognition that Plexus has the potential to become a leading specialist oil and gas wellhead services company that will offer a new wellhead standard for surface and in time, subsea applications."
Shares in the firm had gained 5.3% by 10:08; the stock is now 59.7% up on the start of the year.
BS
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
Review: The Hut, Colwell Bay – a seafood lunch with a holiday feel
Travel Getting to The Hut in Colwell Bay on the Isle of Wight is almost as rewarding as actually eating there
-
What is the 7 year inheritance tax rule and how does it help cut your bill?
Speculation is rife chancellor Rachel Reeves has plans to target inheritance tax once again in her upcoming Budget. But the 7 year inheritance tax rule can save you thousands - here’s how it works.