Specialist Energy Group sees strong second half

Specialist Energy Group (SEG) has had a pleasing morning on the markets after announcing a surge of orders in the second half of its financial year.

SEG is the owner of Hayward Tyler, which is a leading manufacturer of boiler circulating pumps.

The stock has declined 59% in the last 12 months but today the firm says order intake for 2011 reached £31.6m, a 5% increase over 2010.

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As the Chief Executive, Ewan Lloyd-Baker, explained: "the trading levels experienced in the second half ...significantly exceeded those achieved in the first six months of the year."

The company has also recruited a new management team at Hayward Tyler, with the appointments of a Chief Operating Officer, Supply Chain Director, and Human Resources Director.

By 10:47 the stock had gained 7%.

BS