Companies: HMY   

Marine fluid handling systems specialist Hamworthy expects contract deliveries, after-sales and sterling’s weakening to generate ‘relatively strong’ interim figures.

Based in Poole, Dorset, and quoted on AIM, Hamworthy, a leading designer and manufacturer of innovative gas handling, pumping and water management systems, had a three-year order book of £303million at the end of August, up £2 million on a year before, according to its pre-close trading statement ahead of its figures for the six months to September. Chief executive Joe Oatley says the company, which supplies customers in the merchant marine, cruise and onshore and offshore oil and gas sectors, says it expects to report ‘a particularly strong’ first-half performance after lifting pre-tax profits 27 per cent to £17.4 million on turnover 23 per cent up at £232 million.

According to Oatley, the interim results will benefit from the timing of certain contract and expenditures’ deliveries and ‘robust demand in after-sales’. The strength of local currencies in key overseas markets will also have a ‘favourable effect’.

Hamworthy shares, which have fluctuated between 666p and 348p over the past year, now stand at 371.25p, putting a value of £169 million on the company. They should outperform some others in the sector.

Growth Company Investor is the UK’s leading authority on small-cap and AIM companies. You can gain immediate access to all the recent share recommendations with no obligation, with a free 30-day trial. Click here to join today.

Hamworthy	AIM	£93.43m	205.75p	1.75p
Click here for interactive charting
Other company articles:
Hamworthy in Polish deal			03/11/2008
Hamworthy sees currency gains			30/09/2008
Hamworthy			29/05/2008
Hamworthy			10/04/2008
Hamworthy			29/02/2008