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MDM Engineering expects year results 10% ahead of forecast

By BFN News | 09:02 AM | Thursday 12 April, 2012

MDM Engineering anticipates that the results for the year will be at least 10% ahead of current market expectations. The Company intends to announce its final audited results on 19 June 2012. MDM's project pipeline significantly recovered during the last quarter of the year to 31 March 2011. Throughout the calendar year 2011 the Company continued to improve as a result of both MDM's efforts and an improving climate for long-term capital investment projects, resulting in two trading updates advising that results would be ahead of current market expectations. As a consequence of the strong pipeline of current and pending projects, the Company believes that trading for the current financial year will be materially ahead of existing market expectations. Martin Smith, CEO of MDM commented; "MDM's project pipeline continues to exceed current market expectations as the demand for our premium value added services, combined with an improved resources sector and requirement for long-term capital investment projects, increases. "We are very encouraged by the momentum that has continued into the 2012 calendar year making us confident that we will continue to accelerate the growth currently experienced into the new financial year." At 9:02am: (LON:MDM) share price was +10.5p at 131.5p Story provided by