Umeco looks east

Aerospace and defence support services company Umeco is on track to deliver a full year result in line with management's outcomes.

The supply chain management specialist delivered an overall "robust" performance in the four months to January 31st, and said that it has since traded in line with the board's expectations.

The firm is seeing early indications of the anticipated recovery in the Chinese wind energy market, which it says "represents a major strategic opportunity".

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"Overall, our markets continue to evidence the structural growth drivers that are generating increasing demand for our advanced composite materials," the firm said.

Umeco also announced plans to establish a wholly-owned foreign enterprise in China during 2012, which will be centred of a sales and distribution hub in Shanghai that offers local technical and sales support to Asian market.

The firm is investing £3.1m in an additional manufacturing line at its structural materials site in the UK. The line is expected to be installed during autumn 2012.

The share price rose 2.6% to 375.00p by 12:48.

NR