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.
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.
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
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
Sign up for MoneyWeek's newsletters
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.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published