Trading update

RNS Number : 2230I

PipeHawk PLC

11 August 2021

 

This announcement contains inside information as stipulated under the Market Abuse Regulations (EU) no. 596/2014 (which forms part of domestic UK law pursuant to the European Union (Withdrawal) Act 2018)   ("MAR"). With the publication of this announcement via a Regulatory Information Service, this inside information is now considered to be in the public domain.

11 August 2021

PipeHawk plc

("PipeHawk", "Company" or the "Group")

Trading update

PipeHawk is pleased to advise that the unaudited turnover for the second six months to 30 June 2021 was approximately £4.1 million compared to the unaudited turnover for the first six months to 31 December 2020 of £2.6 million. This considerable improvement back to levels encountered before the current pandemic, was as a result of improved trading at QM Systems and Thomson Engineering Design.

Order intake at the Group's three principal subsidiaries, QM Systems, Thomson Engineering Design and Adien is very healthy and the sales pipeline is strong to the extent that we are currently in negotiations with potential landlords for two of our businesses, QM Systems and Thomson Engineering Design, to relocate them to premises with manufacturing capability in excess of three times the current facilities.

The Company expects to report its annual results for the year ended 30 June 2021 in early November 2021.

Enquiries:

PipeHawk Plc Gordon Watt (Chairman)	Tel. No. 01252 338 959
Allenby Capital (Nomad and Broker) David Worlidge/Vivek Bhardwaj	Tel. No. 020 3328 5656

Notes to Editors

For further information on the Company and its subsidiaries, please visit:  www.pipehawk.com

 

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