5 Aug 2014 07:00
5th August 2014
CORAC GROUP PLC
("Corac" or the "Group")
Trading Update and Notice of Half Year Results
Corac, a group of innovative gas, air and energy technologies businesses, announces that its Interim Results for the six months ended 30th June 2014 will be published on Tuesday, 9th September 2014.
The Board is pleased with the Group's progress in the year to date. It remains focussed on delivering growth in all its businesses, and continuing to reduce losses. The Group retains a robust financial position and order book. Further commentary on trading, project progress and strategy will be provided as a report with the results.
Corac Energy Technologies (CET) is concentrating its activity on selected commercial programmes and investment in improving their development and test facilities. The Company anticipates receiving the first multi-unit orders in the renewable energy sector later in the year. The Group has seen growth in both Atmosphere Control International (ACI) and Hunt Thermal Technologies (HTT) businesses; there is a strong pipeline of contract opportunities in their sectors, reflecting both companies' leading technologies and strong competitive propositions.
Corac Group Chief Executive Phil Cartmell commented:
"The first half has been very encouraging, not only for the improving financial performance but also the alignment of the businesses to their true technical strengths and established relationships in the market.
"The Board now looks ahead, having reinforced our belief that the Group has increasingly valuable foundations, with many opportunities for success."
Ends
For further information please contact:
Corac Group plc | www.corac.co.uk |
Phil Cartmell, Chief Executive Officer | 01753 285 800 |
Jon Carter, Chief Financial Officer |
|
Cenkos |
|
Ivonne Cantú / Elizabeth Bowman - Nomad | 020 7397 8980 |
Jeremy Warner-Allen - Sales |
|
MHP Communications | 020 3128 8100 |
Reg Hoare / Vicky Watkins / Charlie Barker |
|
NOTES TO EDITORS
Corac is a group of innovative UK based engineering companies, active in energy and environmental technologies. Group companies produce valuable solutions in compression systems, atmosphere management and heat exchangers for government, energy and industrial users. Corac Group shares have been traded on the London Alternative Investment Market (AIM) since July 2001.