Business
Pre-Close Trading Update
Pre-Close Trading Update.
About this update from Plexus Holdings
[{"type":"text","content":"\n \nRNS Number : 9615P Plexus Holdings Plc 26 August 2014 \n \n\nPlexus Holdings PLC / Index: AIM / Epic: POS / Sector: Oil equipment & services\n26 August 2014\n \n \n \nPlexus Holdings PLC ('Plexus' or 'the Company') \nPre-Close Trading Update\n \nPlexus Holdings PLC, the AIM quoted oil and gas engineering services business and owner of the proprietary POS-GRIP® friction-grip method of wellhead engineering, known for its safety, time and cost saving capabilities, announces that following the end of the Company's financial year on 30 June 2014, the Board anticipates that the full year results, which are subject to external audit, will be in line with market expectations at the revenue level, with profit after tax materially ahead of market expectations.\n \nThe Board is pleased to confirm that the Company has made a positive start to the new financial year, with a strong order book in place for the global supply of its POS-GRIP wellhead equipment. The Asian expansion strategy is building momentum following the recent formation of a new Malaysian Joint Venture Company, and its Joint Industry Project which currently has six major oil and gas operators as members to develop a new and safer subsea wellhead (\"HGSS\") is at an advanced stage. The Company looks forward to updating the market on further progress in due course, and intends to announce its full year results in the second half of October 2014.\n \nPlexus' Chief Executive Ben van Bilderbeek said, \"I am very pleased with our performance as we have continued to achieve strong growth in revenues, margins, and profitability. We have maintained the excellent progress made during the prior year as we continue to win new customer and repeat orders to supply leading oil and gas companies with our proprietary best in class POS-GRIP wellhead technology for exploration activities particularly in the High Pressure/ High Temperature arena, both in the North Sea and further afield to the likes of Africa and Asia. In addition, we continue to pursue a number of important strategic initiatives as we look to build Plexus into the global wellhead provider of choice and necessity across exploration, production, and in due course subsea applications.\" \n \n**ENDS**\n \nFor further information please visit www.po...