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Notice of interim results & trading update

20th Oct 2016 07:00

RNS Number : 9994M
Hayward Tyler Group PLC
20 October 2016
 

20 October 2016

 

Hayward Tyler Group plc

("Hayward Tyler", the "Company" or "Group")

 

Notice of unaudited interim results, trading update and analyst briefing

 

Notice of Results

Hayward Tyler Group plc (AIM: HAYT), the specialist engineering group, announces that the Group's unaudited results for the six months ended 30 September 2016 will be published on Tuesday, 15 November 2016.

 

Trading Update

At the time of the results for the year to 31 March 2016, the Group indicated that the performance in FY2017 would be strongly weighted to the second half of the year. This expectation remains with the Group confident in meeting market expectations of revenues of around £80 million for the full year.

 

Revenue in 1H2017 was £22.5 million (1H2016: £21.8 million) driven by an opening order book1 and order intake2 in 1Q2017. Order intake in the first half was £25.4 million (1H2016: £26.6 million) resulting in an order book of £48.0 million as at 30 September 2016 (At 31 March 2016: £36.1 million).

 

The revenue in 1H2017 is expected to result in the Group making an operating loss for the half year in the region of £5.5 million. Management is positive in the Group's ability to meet full year market expectations based on its strong pipeline of opportunities, recent improved levels of order intake, increased order book and reduced lead times from operational improvements that shorten the revenue cycle.

 

1 Order book represents contracts that had yet to be shipped to customers as at a reporting date

2 Order intake represents contracts for which purchase orders were received from customers in a reporting period

 

Analyst briefing

An analysts' briefing will be hosted by the management team at 10.00am, Tuesday 15 November, at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN. Analysts who wish to attend should contact Buchanan by email at: [email protected] to register.

 

Enquiries:

 

Hayward Tyler Group plc

Ewan Lloyd-Baker, Chief Executive Officer

Nicholas Flanagan, Chief Financial Officer

 

 

Tel: +44 (0)1582 731144

FinnCap Limited - NOMAD & Broker

Matt Goode - Corporate Finance

Emily Watts - Corporate Finance

Tony Quirke - Corporate Broking

 

 

Tel: +44 (0)20 7220 0500

 

Buchanan

Charles Ryland

Chris Judd

Jane Glover

Tel: +44 (0)20 7466 5000

 

 

About Hayward Tyler Group plc

· The Hayward Tyler Group plc ("HTG") consists of the Hayward Tyler and Peter Brotherhood engineering businesses, together providing 350 years of engineering experience, heritage and pedigree.

· Hayward Tyler is a market leader in the design, manufacture and servicing of performance-critical motors and pumps for the harshest of environments.

· Peter Brotherhood is a market leader in the design, manufacture and servicing of performance-critical steam turbines, compressors, gear boxes and combined heat and power systems.

· HTG services the Power, Oil & Gas, Nuclear, Process, Renewables and Marine markets, via its 500 strong workforce, from 7 sites strategically located across the globe.

 

www.htg.global 

 

This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
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