21st Oct 2013 09:34
LONDON (Alliance News) - Shares in Energy Technique PLC jumped 9.2% in early trading Monday as it saw increases in pretax profits and revenues in the half-year ended September 30.
Energy Technique produces air conditioning and heating services. Its shares were trading up 9.2% at 108.10 pence Monday morning. It announced an interim dividend of 0.75 pence per share, maintained from the previous year.
The company posted revenues of GBP4.4 million, up from GBP3.7 million in the previous year. Pretax profit also increased to GBP202,000, up from GBP77,000. The company said that fan coil sales were particularly strong, increased 32% to GBP3.7 million from GBP2.6 million. Large commercial developments had helped boost fan coil sales, the company said.
However, commercial heating sales dropped to GBP850,000 from GBP950,000 due to difficult trading conditions on the UK high street.
The company said that it was experiencing high levels of fan coil enquiries and improving commercial heating enquiries, and whilst it was too early to predict the out turn for the remainder of the year, it believed this would lead to a successful second half of the year.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
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