Energy Technique

Energy Technique has warned of a sharp slowdown in orders in the first quarter of 2003 in its traditional diffusion air movement and heating business - 'we've seen a huge downturn since Christmas. Up until December we were having the best trading experience we'd ever had,' said managing director Leigh Stimpson. Nevertheless, Stimpson claims results for the financial year to March 2003 will be ahead of the previous year, when profits before tax, exceptionals and interest rose 78% to £365,000. And there was encouraging news concerning its Nightingale air treatment product developed by joint venture company UVGI Systems. The unit, which will be used in hospitals and and the aerospace sector, is going on trial at 2 NHS Trust hospitals in the near future and will shortly undergo a laboratory test in the US. The high margin system, which will sell for between £8,000-£10,000, kills anthrax, TB and the MRSA superbug and should be brought onto the healthcare market before the end of the year. Commenting on the firm's measly market cap, Stimpson says the 'huge' potential of the product is 'the whole rationale for us being a plc'. Hold.

Sector: General Industrials

Companies: Energy Technique

Market cap: £9m

PE Forecast: n/a

Share price: 12.25p

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