4 Sep 2014 15:10
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Don't have an account? Click here to register.Corac Group reduces first-half losses
Mon, 16th Sep 2013 08:14
AIM-listed technology-led engineering group Corac said it narrowed losses in the first half of its financial year, while a strong and growing order book underpins its confidence for a second-half performance in line with expectations. The company, which provides services to the oil and gas, defence and industrial markets, said pre-tax loss reduced to £2.4m for the six months to June 30th from a loss of £3.8m the same period a year earlier.Revenue increased £8.3m in the half-year to end-June from £4.3m previously while the group order book stood at £13.2m as at June 30th, down from £16.3m in 2012.Phil Cartmell, Chief Executive Officer, commented: "The board is pleased with the progress shown by the operating companies in the first six months of the year. The management changes have delivered immediate benefits and have strengthened the group for the second half year and beyond. The result is a more balanced business."With the growing maturity of the CET technologies, as demonstrated by the successful testing of the DGC, together with the value built in the two acquired businesses, the board believes the real value of the group is not reflected in the current share price, and is committed to closing this gap."Year-end cash is anticipated to be in line with expectations.CJ
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Corac Group Shares Up As Order Book Rises In First Few Months Of 2014
LONDON (Alliance News) - Corac Group PLC Wednesday said trading has been encouraging so far in 2014, with its order book up 15% since the end of last year and its financial performance and cash position in line with expectations. In a statement issued alongside its annual general meeting, t
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DIRECTOR DEALINGS: Corac Non-Executive Transfers 100,000 Shares
LONDON (Alliance News) - Corac Group PLC Friday said Non-Executive Director Julia Henderson transferred 100,000 shares into her ISA at a price of 8.75 pence per share. As a result, her holding in the ventilation company remains unchanged. Shares were trading at 9.05p, up 3.4%, Friday midday
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Corac Loss Narrows As Research And Development Costs Drop
LONDON (Alliance News) - Technology and engineering group Corac Group PLC Tuesday posted a narrowed pretax loss for 2013, as it saw revenue rise and lowered its research and development costs. The company posted a pretax loss of GBP4.3 million, narrowed from GBP6.1 million, as revenue rose
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Corac Group narrows annual losses
Technology-led engineering company Corac Group, which services the oil and gas sector, narrowed its annual losses as revenue grew. Loss before tax came to £4.3m in the year ended December 31st 2013, down from a loss of £6.1m a year earlier. Revenue increased to £19.3m from £15.3m in 2012, driven b
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