Specialist Energy Group Plc (LON: SEGR) Audited results send the share price soaring!
The AIM quoted niche engineering group for the energy sector announced the audited accounts of its subsidiary sending the share price soaring over 40%!
SEGR was formed through the reverse takeover of Southbank UK PLC (CISX listed) and Nviro Cleantech PLC. Currently the Group’s main operating subsidiary is Hayward Tyler Group Limited worldwide market leaders in boiler circulating pumps, with a focus on the energy sector. This sector covers a wide range of potential activities including conventional fossil fired power generation, nuclear power generation, oil and gas exploration and renewables. The accounts of Southbank for the year ending 31st December 2009 showed revenues up 11% to £36.8m with gross profit up 117% to £10.8m. Operating profit (as adjusted for non-recurring items) was up £4.5m…