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Friday 30 July, 2010

Mount Engineering

Trading Update

RNS Number : 2044Q
Mount Engineering PLC
30 July 2010
 

 

MOUNT ENGINEERING PLC

("Mount")

 

Trading Update

 

 

 

Mount Engineering Plc (AIM:MOU), the manufacturer and supplier of certified explosion proof fittings and supplier of valves and actuators, predominantly to the oil and gas industry, today announces a trading update ahead of its interim results for the six months to 30 June 2010.

 

Challenging conditions have continued to prevail in the first half of the current financial year ended 30 June 2010 with trading in key markets in the Middle East and North America remaining resilient.  Markets in Asia, Europe and the UK, all of which tend to have a greater dependence on project activity, have been weaker than anticipated.  As a result the trading performance of Mount has been marginally behind management's expectations.  Whilst market expectations are for improved trading conditions in the second half of the financial year, performance improvement will be dependent on the timing of an upturn in demand from the international oil and gas markets.

 

The Board anticipates releasing the interim results for the six months ended 30 June 2010 on 27 September 2010.

 

For further information:

 

 

Mount Engineering Plc


Colin Ainger (Non-Executive Chairman)

+44 7778 160 365

David Stanham (Chief Executive Officer)

+44 7834 046 121



Charles Stanley Securities

Nominated Adviser & Broker


Mark Taylor / Ben Johnston

+44 20 7149 6482

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
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