28 Jan 2011 07:00
FOR IMMEDIATE RELEASE 28 January 2011
Northbridge Industrial Services Plc.
("the Group" or "Northbridge")
TRADING UPDATE
Northbridge Industrial Services plc, the industrial services and rental company is pleased to issue the following trading statement in advance of its preliminary results for the year ended 31 December 2010, which are scheduled for release in the week commencing 21 March 2011.
The Group expects earnings for the year ended 31 December 2010 to be in line with market expectations.
The Group's trading has continued to strengthen in the majority of its markets and the second half of the year has seen activity levels increase as expected. Tasman Oil Tools, which was acquired in July 2010, has performed in line with management's expectations and will make a significant contribution to the Group's results for the full year.
Northbridge has started 2011 with a much larger hire fleet and greater geographical coverage following the investment made in 2010. Rental demand remains robust, and product sales enquiries have increased compared with this time last year. With the global economy more vibrant, Northbridge is well placed to exploit the opportunities that it believes will arise and the board is confident that the Group will continue to grow and meet its objectives during 2011.
For further information
About Northbridge:
Northbridge Industrial Services was incorporated for the purpose of acquiring companies that hire and sell specialist industrial equipment supplying a non-cyclical customer base including utility companies, the public sector and the oil and gas industries. In particular it will seek to acquire specialist businesses that have the potential for expansion into complete outsourcing providers.
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