PipeHawk PLC Trading update (2230I)

TIDMPIP

RNS Number : 2230I

PipeHawk PLC

11 August 2021

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018) ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

11 August 2021

PipeHawk plc

("PipeHawk", "Company" or the "Group")

Trading update

PipeHawk is pleased to advise that the unaudited turnover for the second six months to 30 June 2021 was approximately GBP4.1 million compared to the unaudited turnover for the first six months to 31 December 2020 of GBP2.6 million. This considerable improvement back to levels encountered before the current pandemic, was as a result of improved trading at QM Systems and Thomson Engineering Design.

Order intake at the Group's three principal subsidiaries, QM Systems, Thomson Engineering Design and Adien is very healthy and the sales pipeline is strong to the extent that we are currently in negotiations with potential landlords for two of our businesses, QM Systems and Thomson Engineering Design, to relocate them to premises with manufacturing capability in excess of three times the current facilities.

The Company expects to report its annual results for the year ended 30 June 2021 in early November 2021.

Enquiries:

 
 PipeHawk Plc                         Tel. No. 01252 338 959 
  Gordon Watt (Chairman) 
 Allenby Capital (Nomad and Broker)   Tel. No. 020 3328 5656 
  David Worlidge/Vivek Bhardwaj

Notes to Editors

   For further information on the Company and its subsidiaries, please visit:   www.pipehawk.com

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August 11, 2021 02:00 ET (06:00 GMT)

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