5th Aug 2014 10:07
LONDON (Alliance News) - Corac Group PLC Tuesday said trading in the first half of 2014 was encouraging, saying it is continuing to focus on delivering growth and reducing losses in all of its businesses.
The firm, a group of gas, air and energy technology businesses, said its financial position and order book are both "robust".
Corac Energy Technologies is focusing on selected commercial programmes and investment and improving development and test facilities. Corac said the unit anticipates receiving its first multi-unit orders for the renewable energy sector later in the year.
Corac also said it has seen growth for both its Atmosphere Control International and Hunt Thermal Technologies businesses.
"The first half has been very encouraging, not only for the improving financial performance but also the alignment of the businesses to their true technical strengths and established relationships in the market," said Chief Executive Phil Cartmell.
Corac said it will release its results for the six months ended June 30 on September 9.
Corac shares were down 0.4% at 6.35 pence on Tuesday, having risen to 7.00p in early trade.
By Sam Unsted; [email protected]; @SamUAtAlliance
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