9 Months Trading Update (2484W)
January 26 2012 - 8:59AM
UK Regulatory
TIDMETQ
RNS Number : 2484W
Energy Technique PLC
26 January 2012
ENERGY TECHNIQUE PLC
("The Company")
9 MONTHS TRADING UPDATE
The Board is pleased to announce the Company's unaudited trading
results for the nine months ended 31 December 2011. Whilst the
Company does not usually announce its results on a quarterly basis,
the Board believes it is beneficial to keep shareholders and other
stakeholders informed of the Company's profitable progress in the
current property market.
Sales in the nine months ended 31 December 2011 of GBP5.16m
(2010: GBP4.20m) were 23% higher than in the corresponding nine
months of the previous financial year and Diffusion's financial
performance was turned around into an operating profit of
GBP235,000 (2010: loss GBP115,000.) Sales in the third quarter
ended 31 December 2011 were ahead of management's expectations and
the Board was particularly pleased with higher than expected sales
in the seasonally low month of December 2011.
Central and plc related costs continued to be much lower in the
nine months ended 31 December 2011 at GBP100,000 (2010:
GBP138,000), resulting from the Board reorganisation last year.
There were no exceptional items in the nine months (2010:
redundancy costs of GBP30,000) and after interest expense of
GBP25,000 (2010: GBP28,000), the Group's financial performance
turned around into a profit both before and after tax of GBP110,000
(2010: loss GBP311,000).
The Company remains soundly financed with net cash and cash
equivalents at 31 December 2011 of GBP107,000 (31 March 2011:
GBP228,000). The reduction in net cash balances from 31 March 2011
was due to capital expenditure and repayment of hire purchase
debt.
Whilst it is still too early to predict the outturn for the
remainder of the current financial year ending 31 March 2012, there
remains cause for continued optimism. Enquiry levels for both fan
coils and commercial heating products remain at high levels. At the
present time, the Company has orders and order prospects to meet
its expected level of sales for the quarter ending 31 March
2012.
For further information:
Walter Goldsmith Chairman 020 8783 0033
Rob Unsworth Company secretary 020 8783 0033
Ed Frisby/Ben Thompson finnCap Limited (Nominated Adviser) 020 7220 0500
This information is provided by RNS
The company news service from the London Stock Exchange
END
TSTEADFKASNAEFF
Energy Tech. (LSE:ETQ)
Historical Stock Chart
From Jul 2024 to Aug 2024
Energy Tech. (LSE:ETQ)
Historical Stock Chart
From Aug 2023 to Aug 2024