Plexus Holdings (AIM:POS) – made for AIM
The AIM quoted oil and gas engineering services business and owner of the POS-GRIP ® friction-grip method of wellhead engineering, which has been listed on AIM since 2005, is surely just the sort of business that AIM was established to support - huge growth potential in a large growing market, with an occasional need to return to the capital markets for funding!
This small business, with an admittedly rich (and deserved?) valuation, has consistently grown revenue and earnings over the past few years as its innovative wellhead technology gains wider acceptance in an expanding market. For the twelve months ending 30th June 2013 revenues generated from the sale and rental of its brilliant POS-GRIP wellheads and associated support services rose 29.7% to £25.6m, while pre-tax profits jumped by 38.3% to £4.3m. The recent AGM statement drew attention to the “fundamental change taking place within the industry aimed at ensuring that best practices and equipment are used at all stages of oil and…