Hayward Tyler Group PLC Notice of interim results & trading update (9994M)

TIDMHAYT

RNS Number : 9994M

Hayward Tyler Group PLC

20 October 2016

20 October 2016

Hayward Tyler Group plc

("Hayward Tyler", the "Company" or "Group")

Notice of unaudited interim results, trading update and analyst briefing

Notice of Results

Hayward Tyler Group plc (AIM: HAYT), the specialist engineering group, announces that the Group's unaudited results for the six months ended 30 September 2016 will be published on Tuesday, 15 November 2016.

Trading Update

At the time of the results for the year to 31 March 2016, the Group indicated that the performance in FY2017 would be strongly weighted to the second half of the year. This expectation remains with the Group confident in meeting market expectations of revenues of around GBP80 million for the full year.

Revenue in 1H2017 was GBP22.5 million (1H2016: GBP21.8 million) driven by an opening order book(1) and order intake(2) in 1Q2017. Order intake in the first half was GBP25.4 million (1H2016: GBP26.6 million) resulting in an order book of GBP48.0 million as at 30 September 2016 (At 31 March 2016: GBP36.1 million).

The revenue in 1H2017 is expected to result in the Group making an operating loss for the half year in the region of GBP5.5 million. Management is positive in the Group's ability to meet full year market expectations based on its strong pipeline of opportunities, recent improved levels of order intake, increased order book and reduced lead times from operational improvements that shorten the revenue cycle.

1 Order book represents contracts that had yet to be shipped to customers as at a reporting date

2 Order intake represents contracts for which purchase orders were received from customers in a reporting period

Analyst briefing

An analysts' briefing will be hosted by the management team at 10.00am, Tuesday 15 November, at the offices of Buchanan, 107 Cheapside, London, EC2V 6DN. Analysts who wish to attend should contact Buchanan by email at: [e-mail] to register.

Enquiries:

 
 Hayward Tyler Group plc 
  Ewan Lloyd-Baker, Chief Executive     Tel: [phone] 
  Officer                               731144 
  Nicholas Flanagan, Chief 
  Financial Officer 
-----------------------------------  ---------------------- 
 FinnCap Limited - NOMAD & 
  Broker                                Tel: [phone] 
  Matt Goode - Corporate Finance        0500 
  Emily Watts - Corporate Finance 
  Tony Quirke - Corporate Broking 
-----------------------------------  ---------------------- 
 Buchanan                             Tel: [phone] 
  Charles Ryland                       5000 
  Chris Judd 
  Jane Glover 
-----------------------------------  ---------------------- 
 

About Hayward Tyler Group plc

-- The Hayward Tyler Group plc ("HTG") consists of the Hayward Tyler and Peter Brotherhood engineering businesses, together providing 350 years of engineering experience, heritage and pedigree.

-- Hayward Tyler is a market leader in the design, manufacture and servicing of performance-critical motors and pumps for the harshest of environments.

-- Peter Brotherhood is a market leader in the design, manufacture and servicing of performance-critical steam turbines, compressors, gear boxes and combined heat and power systems.

-- HTG services the Power, Oil & Gas, Nuclear, Process, Renewables and Marine markets, via its 500 strong workforce, from 7 sites strategically located across the globe.

www.htg.global

This information is provided by RNS

The company news service from the London Stock Exchange

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October 20, 2016 02:00 ET (06:00 GMT)