Redhall Group Notes Share Movement, Continues To Implement Strategy

LONDON (Alliance News) - Redhall Group PLC Thursday said it has noted the recent movement in its share price, which is up 44% over the last 30 days, and said it continues to implement its strategy outlined at the end of 2014.

On Thursday afternoon, Redhall shares were up 1.8% to 14.00 pence per share.

Redhall is a multi-disciplined engineering business offering design, manufacture, installation, maintenance and decommissioning services to the nuclear, oil and gas, defence, petrochemical and food process sectors.

"The group continues to implement the strategy outlined in December 2014 to focus on higher margin manufacturing activities as well as implementing cost reductions and reducing exposure to contracting. A range of options is being considered to achieve this," said Redhall in a statement.

In December, Redhall said it would refocus its business on higher-margin manufacturing activities, with an emphasis on the nuclear and oil and gas markets. It also said it would move away from a divisional management layer, placing day-to-day management within each business unit with support from its executive directors. It will also centralise elements of its support functions before July 2015.

By Joshua Warner; joshuawarner@alliancenews.com; @JoshAlliance

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