11th Aug 2021 11:49
(Alliance News) - Shares in PipeHawk PLC on Wednesday rose sharply as the company announced revenue had rebounded back to pre-pandemic levels.
The stock was up 23% at 8.30 pence in London following the announcement.
Revenue in the half-year period to June 30 was GBP4.1 million, up 58% from GBP2.6 million six months before, the company said in a trading update. The improved performance was attributed to better trading at its automation provider subsidiary QM Systems Ltd and the Thomson Engineering Design business.
PipeHawk, which provides engineering products and services to the transport and aerospace industries, stated that order intake at its three main subsidiaries - QM Systems, Thomson and Adien - was "very healthy".
The Aldershot-based company also announced that it was in talks to relocate QM Systems and Thomson to new premises, with manufacturing capability more than three times higher than the current facilities.
PipeHawk expects to report its annual results in early November.
By Will Paige; [email protected]
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