30th Jul 2015 09:05
LONDON (Alliance News) - Engineering group Hayward Tyler Group PLC on Thursday said it has made further progress on its Luton Centre of Excellence and has secured new contracts.
The company said it has raised a further GBP1.4 million before costs from the final issue under its secured loan note programme in order to back further work at Luton. The development is on track and on budget, and Hayward said it expects it to be fully operational by July 2016.
In addition, Hayward said is has secured GBP13.5 million in new orders in the first quarter of its current financial year. In the three months to the end of June, it has won contracts in the nuclear, power and oil and gas sectors, and its order intake in the quarter was up 14% year-on-year.
"The expansion of our Luton operations, and the creation of a Centre of Excellence within the group at the location, forms a central component to our on-going growth plans. We are therefore delighted by the support received from institutional and high net worth investors through the programme. We are likewise pleased by the solid growth in order intake during the first quarter of the current financial year," said Chief Executive Ewan Lloyd-Baker.
Shares in Hayward were up 3.2% to 87.68 pence on Thursday.
By Sam Unsted; [email protected]; @SamUAtAlliance
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