I dont think anyone has tipped HMY yet so here we go:
Hamworthy are a world beater in LNG pumps
Financial highlights
* Turnover up 10.8% to #61.9 million (2004: #55.9 million)
* Operating profit up 11.3% to #4.1 million (2004: #3.7 million)
* Pro forma* basic earnings per share 7.4 pence (2004: 7.9 pence) as effective tax rate rises.
Statutory basic earnings per share 7.4 pence (2004: 12.5 pence)
* Cash generation from operating activities #2.7 million (2004: #2.6 million)
* Order book increases to #170.7 million (31 March 2005: #121.0 million)
* Dividend of 1.8 pence per share (2004: nil)
* The Group has announced today that it is to raise #17.5 million, before expenses, by way of a Placing of 6,140,351 new Ordinary Shares at a price of 285p per Placing Share. The Placing is conditional on Shareholder approval at an EGM convened for 12.00 midday on 16 December 2005.
Last months interim figures showed decent growth coming through which should accelerate in 2006.Confidence is high enough that not only has the company raised £17.5mn to fund an aquisition spree, but investors are backing the fundraising to boot. A maiden divi paid is another good sign for the future.
