20th Aug 2015 08:38
LONDON (Alliance News) - Energy Technique PLC on Thursday said it is managing the company for growth as it continues with a formal sale process to find a buyer.
Energy Technique, which in February appointed Cavendish Corporate Finance LLP to handle the sale, said it will provide further details about the sale process in due course. The company said it has a secure future as an independent business, and is pursuing a sale to "unlock and crystallise value" for shareholders.
The company said that trading over April, May and June laid the foundations for a successful year to the end of March 2016.
"Enquiry levels remain high and the order book is strong. Improved UK fan coil market demand that started two years ago is expected to continue for the year ending 31 March 2016 and beyond," the company said.
Sales increased in the first quarter of the company's financial year, up to GBP2.9 million for the three months from GBP2.8 million in the corresponding quarter the prior year. Pretax profit increased to GBP258,000 from GBP252,000 year-on-year.
Energy Technique shares were up 0.3% at 326.00 pence on Thursday morning in London.
By Samuel Agini; [email protected]; @samuelagini
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