Trading update and notice of results

13 May 2014

Hayward Tyler Group plc

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

Trading update and notice of results

The directors of Hayward Tyler (AIM:HAYT), the specialist engineering group, are pleased to report that its audited consolidated results for the year ended 31 March 2014 will be published in the week commencing 30 June.

The board is also pleased to report that the strong improvement in the underlying operations highlighted in the Company's interim results continued through the second half of the year and that order intake across the Company's core markets has remained buoyant. At 31 March 2014, new orders for the year stood at £46.0 million, 8 per cent ahead of the same period for the previous year.

In particular, the directors are encouraged by the progress being shown in the nuclear market as a result of the firm's Nuclear Excellence drive. Following on from the recent Forsmark win announced in March, the Company has won a further civil nuclear contract in South Korea valued at $0.6 million for Korea Hydro & Nuclear Power, to be fulfilled within the current financial year.

Meanwhile, within the conventional power market, the Company continues to see increasing activity, particularly within Greater China, having recently won a $5.4 million order (£3.2 million) for eight boiler circulating pumps for two supercritical projects for delivery over the next 15 months. This follows on from the £2.0 million of project wins in China and Eastern Europe announced in March 2014.

Ewan Lloyd-Baker, CEO of Hayward Tyler, commented:

"We are encouraged particularly by the improving economic climate and the broad increase of capital investment into both the conventional and nuclear power generation markets and the subsea oil and gas exploration markets globally. We are confident that the combination of our marketing initiatives and the investment into our R&D and manufacturing facilities that the Regional Growth Fund grant will deliver should enable us to continue to meet or exceed our gross and operating profit margin targets whilst maintaining our aspirations for double digit growth. Furthermore, we anticipate that our results for the year ended 31 March 2014 will be at least in line with current market expectations."

Net debt as at 31 March 2014 was £8.3 million, a modest decrease of £0.2 million (2 per cent) from the level as at 31 March 2013 reflecting the payment of the inaugural dividend in February 2014 (£0.2 million), a share purchase for the Employee Benefit Trust (£0.3 million) as part of the vendor placing completed in January, and the underlying growth of the business.

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