4 Sep 2014 15:10
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Don't have an account? Click here to register.Corac up on new compression system
Tue, 17th Apr 2012 10:35
Corac, the engineering technology company, has risen sharply in morning trading after revealing reduced losses and emphasising the potential of its recent purchase of Wellman Hunt Graham and Wellman Defence. A new design for a modular compression system also appears to have boosted hopes for the firm.Revenues for 2011 were £0.32m, broadly in line with the consensus forecast of £0.34m, while losses before tax were less than expected at £5.67m (consensus £6.16m).Corac has, up until recently, been a research outfit so the losses are not unexpected; total R&D spend for the year was £3.35m as the group continued to develop high speed compressor and power electronics.The post-period purchase of the Wellman companies for £10.75m ought to be a major boost to Corac, as the purchase comes with established clients and revenues.The new compression system announced today has led to patent applications for "14 new inventions" with the firm saying it will develop the product "in collaboration with a number of energy industry operators".By 10:38 the shares had gained 7.7%BS
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14 May 2014 10:33
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
Read more1 Apr 2014 10:15
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
Read more1 Apr 2014 05:10
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