Plexus Holdings to smash market expectations

Trading at Plexus Holdings, an AIM quoted oil and gas engineering services business, has exceeded management's expectations, with full year earnings in the 12 months ended June 30th now expected to be ahead of market expectations.

Trading at Plexus Holdings, an AIM quoted oil and gas engineering services business, has exceeded management's expectations, with full year earnings in the 12 months ended June 30th now expected to be ahead of market expectations.

The firm said post-tax profits and earnings per share are expected to be materially better than current analysts' forecasts after demand for its high pressure/ high temperature (HP/HT) wellhead business activities continued to show strong momentum, with further contracts having been secured with both existing and new major international oil and gas operators across the world.

During the period the company also increased the number of consulting partners to its HGSS subsea wellhead design Joint Industry Project, signed an inaugural POS-GRIP world-wide licensing agreement for the supply of wellhead equipment to ENI Italy's largest oil and gas company, and progressed its HP/HT Tieback wellhead system JIP with Maersk Oil North Sea UK.

"Plexus's management are excited with the business outlook for the remainder of 2012 and into 2013 and look forward to reporting a more detailed summary and general overview on the company's current trading and future prospects when the annual results are announced," the firm said in a statement.

The share price climbed 8.67% to 163p in mid-morning trading.

NR

Recommended

Share tips of the week - 12 August
Share tips

Share tips of the week - 12 August

MoneyWeek’s comprehensive guide to the best of this week’s share tips from the rest of the UK's financial pages.
12 Aug 2022
Britain’s ten most-hated shares – w/e 9 August
Stocks and shares

Britain’s ten most-hated shares – w/e 9 August

Rupert Hargreaves looks at Britain's ten most-hated shares, and what short-sellers are looking at now.
10 Aug 2022
Aviva: One for income investors to tuck away
Share tips

Aviva: One for income investors to tuck away

Insurance giant Aviva is one of the highest yielding stocks in the FTSE 100 – and it’s cheap, too, making it a tempting target for income investors. R…
10 Aug 2022
Director dealings w/e 5 August: what company insiders are buying and selling
Stocks and shares

Director dealings w/e 5 August: what company insiders are buying and selling

Directors’ share dealings can often give investors an insight into the sentiment of company insiders. Here are some of the biggest deals by company di…
9 Aug 2022

Most Popular