1st May 2018 09:11
LONDON (Alliance News) - Shares in PipeHawk PLC soared on Tuesday morning as it has said it has received a number of new orders in the period since its interims announcement in late March.
The stock was trading at 6.93 pence each Tuesday, up 124%.
PipeHawk in March said it was awaited a number of "significant" contracts for its QM Systems division over the four to six weeks ahead of that date.
Since then, the company said, it has received four such orders valued at between GBP150,000 and GBP500,000 each, and the total value of orders received by QM Systems was GBP1.2 million.
In the four months to April's end, the value of QM Systems orders was GBP1.9 million.
On top of this Pipehawk, which makes electronic systems for the land mine and utilities detection markets, said its enquiry pipeline is strong and it is confident its "buoyant" order intake will keep going in its current financial year, which ends June.
Chairman Gordon Watt said: "Businesses are increasingly realising the significant advantages that QM Systems' one stop shop approach to no-fault-forward automation provides in terms of productivity, efficiency and reliability."
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