Information  X 
Enter a valid email address

Corac Group Plc (CRA)

  Print      Mail a friend       Annual reports

Tuesday 05 February, 2013

Corac Group Plc

Year End Trading Update & Notice of Results

RNS Number : 0825X
Corac Group Plc
05 February 2013
 



5th February 2013

 

CORAC GROUP PLC

("Corac" or the "Group")

Year End Trading Update

&

Notice of Results

 

Corac Group plc the innovative technology-led engineering group, serving the global oil and gas, defence and industrial markets, today announces a trading update for its financial year ended 31 December 2012 and notice of results.

 

Trading Update

 

The Board expects that the Group's financial performance will be ahead of market expectations. Cash and cash equivalents are also ahead of market expectations, at £6.6 million at year end (30 June 2012: £6.8 million). 

 

During 2012, the Group successfully integrated the two acquired businesses that have contributed revenues and profits to the overall result, whilst the gas compression development programmes continued to progress well.  Following delivery to the American partner, pre-deployment system checks on the first DGC have been completed successfully.  The system is now ready to begin deployment and preparatory work is advanced on the well.

 

An update on the progress of the wider Group programmes will be provided at the time of the final results.

 

The three subsidiaries are performing well and management is pleased that the combined current order book places the Group in a good position for 2013 and beyond.

 

Notice of Results

 

The Group's final results for the year ended 31 December 2012 will be published on Tuesday, 26 March 2013.

 

Phil Cartmell, Chairman of Corac said:

"2012 was a year of significant progress for Corac, with successful acquisitions and evidence of increasing confidence in the commercialisation of our unique technologies in multiple sectors of significant scale. We are excited about the prospects of 2013."

 

Ends

For further information please contact:

Corac Group plc

www.corac.co.uk

Phil Cartmell, Executive Chairman

01753 285 800

Mark Crawford, Chief Financial Officer


Cenkos


Ivonne Cantú - Nomad

020 7397 8980

Jeremy Warner-Allen - Sales


MHP Communications

020 3128 8100

Reg Hoare / Vicky Watkins / Naomi Lane


NOTES TO EDITORS

Corac is a UK based group of advanced technology and engineering companies. The Group produce innovative, diverse and valuable solutions in compression systems, atmosphere control and heat exchangers for government, energy and industrial users. It has traded shares on the London Alternative Investment Market (AIM) since July 2001.


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