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Trading and Operational Update

30th Mar 2015 07:00

RNS Number : 7801I
Hayward Tyler Group PLC
30 March 2015
 



30 March 2015

 

Hayward Tyler Group plc

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

 

Trading and Operational Update

 

Hayward Tyler Group plc (AIM: HAYT.L), the specialist engineering group, is pleased to report: healthy Q4 trading across its markets, the expansion of its sales presence in the Far East, and expansion of its Luton facility is on-track.

 

Trading

In the conventional power generation market, Hayward Tyler is pleased to announce that the Company has secured a new contract from Shanghai Boiler Works in China worth over £0.6 million for the delivery of two Boiler Circulating Pumps for the 1000MW Supercritical Beijiang power plant in Tianjin Province, Northern China. Due for delivery in October and November this year, the accelerated fulfilment has been facilitated through advance capacity planning via Hayward Tyler's integrated Sales and Operations Planning process. In India, an aftermarket order due for delivery before the end of December and valued at over £0.5 million, further supports the Company's conventional power generation installed base in Chhattisgarh state.

 

In nuclear, following the contract wins reported in Q3, Hayward Tyler continues to explore opportunities in the UK nuclear new build market helped by increased market awareness of the Company's participation in the Civil Nuclear Sharing in Growth Programme.

 

Within oil & gas, the Company is receiving significant interest from the industry as a result of its subsea experience and the ability of its technology to secure greater efficiency and extraction from offshore wells. The Company anticipates being able to update the market on its developments in the oil & gas sector at the Offshore Technology Conference in Houston in May where it will be exhibiting.

 

Expansion of Far East Sales Presence

The Company is also pleased to report that in January it opened a new sales office in Shanghai, China, to complement its existing service and overhaul facility in Kunshan. The Shanghai presence will allow the Group to better access and serve the Chinese energy, power and chemical markets.

 

Luton Update

In Luton, the construction of the Regional Growth Fund backed Centre of Excellence continues on-track. As announced on 30 January 2015, and as part of the continued Luton investment programme, the Company expects to make a second and final issue from the Secured Loan Note Programme by August 2015.

 

Ewan Lloyd-Baker, CEO of Hayward Tyler,

"In spite of the tightening market conditions, the Group continues to make solid progress across its chosen markets, which underpins management's expectation of meeting market expectations for the full year."

 

Hayward Tyler intends to issue a pre-close statement in the week of 27 April 2015.

 

Enquiries:

 

Hayward Tyler Group plc

Ewan Lloyd-Baker, Chief Executive Officer

Nicholas Flanagan, Chief Financial Officer

 

 

Tel: +44 (0)1582 731144

Akur Limited - Corporate Finance adviser

Tom Frost

David Shapton

 

 

Tel: +44 (0)20 7493 6548

FinnCap Limited - NOMAD & Broker

Matt Goode - Corporate Finance

Grant Bergman - Corporate Finance

Tony Quirke - Corporate Broking

 

 

Tel: +44 (0)20 7220 0500

 

GTH Communications Limited

Toby Hall

 

 

 

Tel: +44 (0) 20 7822 7493 / +44 (0)7713 341072

 

 

 

 

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