Surveillance technology company Quadnetics has seen a dramatic jump in like-for-like sales in the first quarter of 2012, as it cashed in on demand from the gaming and oil and gas sectors.
LFL sales gained 15% between January and March compared to the same period of 2011, while margins have also improved.
Sales of surveillance systems for the US gaming industry and for major oil and gas developments in Australia, the Middle East and Far East have shown particular strength.
Subscribe to 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
Today's statement, ahead of the annual general meeting, reveals the defence market remains weak but a focus on big projects in the UK has borne fruit. Quadnetics has recently won the contract for the upgrade and maintenance of Magnox nuclear facilities across Britain.
The company says it expects to deliver results "in line with market expectations".
The stock had gained 6.2% by 11:07 and is now 26.4% up since the beginning of 2012.
BS
-
Christmas at Chatsworth: review of The Cavendish Hotel at BaslowMoneyWeek Travel Matthew Partridge gets into the festive spirit at The Cavendish Hotel at Baslow and the Christmas market at Chatsworth
-
Tycoon Truong My Lan on death row over world’s biggest bank fraudProperty tycoon Truong My Lan has been found guilty of a corruption scandal that dwarfs Malaysia’s 1MDB fraud and Sam Bankman-Fried’s crypto scam
