PipeHawk PLC - Aldershot, Hampshire-based provider of technology solutions to highways, automotive, rail and aerospace industries - Shares rise 19% after posting pretax profit of GBP194,000 for financial year ended June 30, up from just GBP12,000 the year prior. This was as revenue increased 24% to GBP8.3 million from GBP6.7 million, with the Thomson Engineering Design unit recording a 42% rise in turnover.
Looking ahead, Chair Gordon Watt said: "All divisions of the group are currently performing well, and I remain optimistic in my outlook for the group, subject always to any unusually negative impact from further coronavirus lockdown or an absurd reaction from the EU if there is a WTO-terms Brexit."
Cash held as at June-end was GBP250,000, down from GBP774,00 the year prior.
Current stock price: 7.71 pence
Year-to-date change: up 26%
By Ife Taiwo; ifetaiwo@alliancenews.com
Copyright 2020 Alliance News Limited. All Rights Reserved.
PipeHawk (PIP)