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
-
FTSE 100 hits record highs – why is it rising and will we see more gains?Advice UK equities have been described as unloved for a long time but as the FTSE 100 hits new highs, we explain if now is the time to buy British.
-
How to invest in copperIt may be time to invest in copper as the red metal appears poised for a big jump. Dominic Frisby looks at what should investors should buy
