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".
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
"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
-
How taking a two-year career break could leave a £26k hole in your pensionCareer breaks are increasingly common but it is important to take steps to protect your pension, as gaps compound over time
-
Cash in on your attic: Thousands could be sitting dormant in your storageSelling your valuables at auction could be far more lucrative than you think. We take a look at how auctions work, and some tips to help you maximise your profits
