Clyde Process Solutions – in line but predicting remains difficult
The AIM quoted provider of pneumatic conveying and air filtration solutions, reported a trading performance in line with management expectations.
The Group has seen its share price decline from a high in 2007 of c133p to the current level of 55p and today’s news failed to deliver any boost to the share price.
The Group’s order book at 31st July 2010 stood at £24.2m, up 18% from the Group’s financial year end in February (£20.5m.) This growth has been generated from orders secured predominantly in the food, metals, chemicals and petrochemicals markets. Management commented that they had recruited a number of experienced business development resources in recent months for the operations in the US, UK, China and Brazil and believe their personal networks and expertise will add significantly to the Group’s already buoyant sales pipeline. The financial year has started well, with Clyde wining their first order in the Chinese cement market, a…