17th Jul 2014 10:43
LONDON (Alliance News) - Servelec Group PLC Thursday said it traded in line with expectations in the six months to June 30 and continues to make progress this year, with a number of new contract wins.
The intellectual property group said notable contract wins include two healthcare projects in the north of England. More recently, the company was selected by the nuclear business of EDF Energy, part of Electricite de France SA, to upgrade drive systems at two of EDF's UK power stations.
In addition, the company said it continues to build its Automation arm's order book with a further four significant contract wins during the period worth a total of GBP3 million.
At the period-end, the company had a cash balance of GBP14 million.
Servelec will publish its half-year results on August 28.
Servelec Group shares were quoted up 1.1% at 263.25 pence Thursday morning.
By Anthony Tshibangu; [email protected]; @AnthonyAllNews
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