20 Oct 2016 07:00
20 October 2016
Hayward Tyler Group plc
("Hayward Tyler", the "Company" or "Group")
Notice of unaudited interim results, trading update and analyst briefing
Notice of Results
Hayward Tyler Group plc (AIM: HAYT), the specialist engineering group, announces that the Group's unaudited results for the six months ended 30 September 2016 will be published on Tuesday, 15 November 2016.
Trading Update
At the time of the results for the year to 31 March 2016, the Group indicated that the performance in FY2017 would be strongly weighted to the second half of the year. This expectation remains with the Group confident in meeting market expectations of revenues of around £80 million for the full year.
Revenue in 1H2017 was £22.5 million (1H2016: £21.8 million) driven by an opening order book1 and order intake2 in 1Q2017. Order intake in the first half was £25.4 million (1H2016: £26.6 million) resulting in an order book of £48.0 million as at 30 September 2016 (At 31 March 2016: £36.1 million).
The revenue in 1H2017 is expected to result in the Group making an operating loss for the half year in the region of £5.5 million. Management is positive in the Group's ability to meet full year market expectations based on its strong pipeline of opportunities, recent improved levels of order intake, increased order book and reduced lead times from operational improvements that shorten the revenue cycle.
1 Order book represents contracts that had yet to be shipped to customers as at a reporting date
2 Order intake represents contracts for which purchase orders were received from customers in a reporting period
Analyst briefing
An analysts' briefing will be hosted by the management team at 10.00am, Tuesday 15 November, at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN. Analysts who wish to attend should contact Buchanan by email at: haywardtyler@buchanan.uk.com to register.
Enquiries:
Hayward Tyler Group plc Ewan Lloyd-Baker, Chief Executive Officer Nicholas Flanagan, Chief Financial Officer
|
Tel: +44 (0)1582 731144 |
FinnCap Limited - NOMAD & Broker Matt Goode - Corporate Finance Emily Watts - Corporate Finance Tony Quirke - Corporate Broking
|
Tel: +44 (0)20 7220 0500
|
Buchanan Charles Ryland Chris Judd Jane Glover | Tel: +44 (0)20 7466 5000
|
About Hayward Tyler Group plc
· The Hayward Tyler Group plc ("HTG") consists of the Hayward Tyler and Peter Brotherhood engineering businesses, together providing 350 years of engineering experience, heritage and pedigree.
· Hayward Tyler is a market leader in the design, manufacture and servicing of performance-critical motors and pumps for the harshest of environments.
· Peter Brotherhood is a market leader in the design, manufacture and servicing of performance-critical steam turbines, compressors, gear boxes and combined heat and power systems.
· HTG services the Power, Oil & Gas, Nuclear, Process, Renewables and Marine markets, via its 500 strong workforce, from 7 sites strategically located across the globe.
www.htg.global