7 May 2015 07:00
7 May 2015
MayAir Group plc
("MayAir" or "the Group")
Trading update and significant contract win
MayAir Group plc (AIM:MAYA.L), a leading provider of air filtration and clean air technology in the industrial, commercial and residential markets, is pleased to provide the following trading update for the four month period ended 30 April 2015.
The Group has seen increased interest in its solutions and products in the first four months of the year with revenues primarily generated in the industrial segment. The Group is also encouraged with increased traction in its commercial and residential market segments. Consequently, the Group saw revenues increase by over 90% to US$17.2 million (unaudited) in the first four months of 2015 compared with US$8.9 million for the first four months of 2014.
The Group is also pleased to announce that its industrial segment has been awarded a new contract valued at US$6.3 million by an existing customer - a tier 1 technology manufacturing company. This contract is part of a larger contract for which the tender process is continuing and the total value of which, including the US$6.3 million already secured, is anticipated by the Directors to be worth in excess of US$9 million. As stated in its Admission document, the Group's current order book stands at US$33.6 million, which includes the new US$6.3 million order. A substantial proportion of this order book is underpinned by three significant cleanroom projects scheduled for completion during the course of 2015.
The Directors believe that the market for the global clean air industry has long-term, high-growth potential, and, whilst they also expect further growth in the Group's industrial sector, they anticipate that the commercial and residential sectors will see particularly strong growth rates, partly as a result of the increasing awareness of the negative health impacts of polluted air. The Directors believe that this will lead to an increase in the demand for clean air solutions, driven by a desire for more healthy working and living environments. As a result, the Board looks to the prospects for MayAir and its future with great confidence.
Enquiries
MayAir | |
Yap Wee Keong, Chief Executive Officer | |
Koh Tat Seng, Chief Financial Officer | +44 20 7618 9100 |
Allenby Capital Ltd | |
Alex Price, James Reeve | +44 20 3328 5656 |
Mirabaud Securities LLP | |
Peter Krens | +44 20 7 321 2508 |
Luther Pendragon | |
Harry Chathli, Claire Norbury, Alexis Gore | +44 20 7618 9100 |
Notes to Editor
About MayAir
MayAir Group plc (AIM: MAYA.L), is one of the market leaders in providing air purification solutions for use in industrial cleanrooms, and has supplied large multinational manufacturers such as OSRAM, Sony, York and SanDisk. Founded in 2001, the Group's core business historically has been in providing fan filter units (FFUs) air filtering equipment for use in industrial cleanrooms, an area in which it has established itself as one of the leading providers in China. Since 2011, the Group has begun to diversify its product offering, increasingly implementing its strategy of expanding its business to include indoor clean air solutions for the commercial and residential markets. Key large flagship commercial customers so far include SOHO Galaxy Beijing and Huawei. The Group has an extensive IP portfolio, is ISO certified for quality management systems (9001:2008) and environment (14001:2004) and its products are certified by CE (European Union) and UL (Underwriters Laboratories, an American worldwide safety consulting and certification company). For additional information please visit: www.mayairgroup.com