Hightex Group Share News (HTIG)

Shares in membrane roof specialist Hightex slipped back Wednesday - despite the group seeing a surge in revenues and profits in 2010 - after it revealed a lack of large contracts in the first quarter of the current year."The directors are disappointed that no significant contracts have been awarded in recent months," said executive chairman Charles DesForges."Although the shape of Hightex's potential forward order book has not changed, current financial and political developments have had an adverse impact on the timetable for awarding these contracts," he said.2010 results however did provide some good news, with turnover jumping 51% to €30.2m, from €20m in 2009, and pre-tax profit climbing 150% from €0.8m to €2m.Notable contracts include globally recognised projects such as the roofs for the Olympic Stadium in Kiev and the National Stadium in Warsaw, both of which will be used for the EURO 2012 Football championship.Earnings per share increased to €0.78, from €0.29 previously. No dividend was paid (2009: nil).---bc