Energy Technique.....the suvair deal is done...target price 30p+

Energy Technique incurs further losses
Fri 31 Dec 2004

ETQ - Energy Technique

Latest Prices
Name Price %
Energy Technique 3.00p -14.29%

FTSE AIM 1,004 +0.32%
Engineering & Machinery 2,156 +0.12%

LONDON (SHARECAST) - Energy Technique, the air conditioning equipment group, fell sharply today after plunging into a heavier pre-tax loss for the first half.

The firm reported a pre-tax loss of £924,000 for the six months to September against £679,000 on sales of £6.11m compared to £4.95m a year earlier.

The poor results come after “extremely difficult trading conditions” in the second quarter at Diffusion Heating and Cooling.

Energy said the losses incurred in the period were directly related to an unexpected sharp downturn in the fan coil business at its West Molesey operation in July through to September.

The group said it has since seen a modest upswing, though new competition from Europe and Asia continues to affect