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Redhall poised for nuclear surge
ENGINEER Redhall said it has made good progress in testing markets and is looking forward to a surge in nuclear work.
The Wakefield group, whose work ranges from designing and building a new bio-ethanol plant at the BP Chemicals Saltend site, to outfitting contracts for nuclear submarines, grew sales and profits in the six months to the end of March.
Redhall said revenue was up to 65.4m from 64.8m a year earlier. Adjusted profit before tax grew six per cent to 3.3m.
Executive chairman David Jackson said: "We are pleased with the group's performance in the first half of the current financial year, which demonstrates that the business has retained its ability to deliver through a testing time in our markets.
"We believe that the ever strengthening Redhall brand will assist us in growing our business across our target markets as economic conditions improve."
Redhall said its key objective has been to "keep the business on a sound financial footing". It grew net cash to 7.5m from 6.3m a year earlier and is now seeking opportunities to use it.
It added the nuclear new build programme creates significant long-term opportunities and it is exploring opportunities with several potential partners.
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Friday 25 May 2012
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