Tribe Technology set to deliver healthy pipeline of orders from Tier-One miners. Watch the video here.

Less Ads, More Data, More Tools Register for FREE

Pin to quick picksPlexus Share News (POS)

Share Price Information for Plexus (POS)

London Stock Exchange
Share Price is delayed by 15 minutes
Get Live Data
Share Price: 13.25
Bid: 13.00
Ask: 13.50
Change: -0.25 (-1.85%)
Spread: 0.50 (3.846%)
Open: 13.50
High: 13.50
Low: 13.00
Prev. Close: 13.50
POS Live PriceLast checked at -

Watchlists are a member only feature

Login to your account

Alerts are a premium feature

Login to your account

Plexus profit bounces back

Thu, 24th Mar 2011 10:42

POS-GRIP wellhead equipment supplier Plexus increased its interim revenues by 16% to £7.5m and this helped profit to bounce back but North Sea tax changes could create uncertainty. Last year's Gulf of Mexico oil spill from BP's offshore field and other spills have increased the focus on wellhead safety and blow out preventers, such as POS-GRIP. Revenues grew from £6.47m to £7.54m in the six months to December 2010, with most of the money coming from rental services. Increased exploration activity in the North Sea has helped and there have been contract wins in Australia and in Surinam. Profit jumped from £131,000 to £1.1m. That was better than expected. AIM-quoted Plexus had net cash of £676,000 at the end of 2010. There are bank facilities of £6m. There was a strong cash inflow in the first half but Plexus needs the facilities to cope with the volatility of working capital and increased R&D spending on a new POS-GRIP friction-grip subsea wellhead called HGSS. This will have higher performance and testing standards. The existing POS-GRIP technology is compliant with API Spec 6A wellhead standards and the equivalent ISO 10423. Plexus made a profit of £1.9m in 2007-08 and it is well-placed to return to that level of full year profit. There could be some short-term uncertainty, though, because of the North Sea tax changes in the Budget. Prior to the Budget, a survey suggested that capital investment in the North Sea could reach £8bn a year and carry on at that level for five years. Oil companies may have to recalculate their figures following the proposed tax changes. Westhouse reckons that the "unpredictability of fiscal conditions, and the worsening field economics the tax will create, is likely to deter investment and stimulate the search for oil and gas elsewhere". If there is less exploration in the North Sea and more elsewhere that is not necessarily bad for Plexus, though.
More News
22 Aug 2023 10:36

AIM WINNERS & LOSERS: Plexus surges as contract value rises

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Tuesday.

Read more
22 Aug 2023 08:58

LONDON MARKET OPEN: Stocks head higher in "minor relief rally"

(Alliance News) - Stock prices in London opened higher on Tuesday, as a cautious optimism swept over global markets.

Read more
22 Aug 2023 08:35

Plexus Holdings shares rise as announces 60% contract value jump

(Alliance News) - Plexus Holdings PLC on Tuesday announced that the value of a major contract from March has increased by 60%.

Read more
23 May 2023 16:12

TRADING UPDATES: Harworth optimistic on 2027; Plexus extends agreement

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Tuesday and not separately reported by Alliance News:

Read more
27 Mar 2023 15:01

EARNINGS UPDATES: Belvoir ups yearly payout; SigmaRoc swings to profit

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Monday not separately reported by Alliance News.

Read more
6 Mar 2023 17:00

LONDON MARKET CLOSE: Stocks down ahead of Fed Chair Powell's report

(Alliance News) - Stock prices in London closed mostly lower on Monday, with the FTSE 100 weighed down by its mining stocks.

Read more
6 Mar 2023 10:48

AIM WINNERS & LOSERS: Amur to pay dividends after disposal completion

(Alliance News) - The following stocks are the leading risers and fallers on AIM in London on Monday.

Read more
6 Mar 2023 10:32

Plexus wins GBP5 million contract for specialised project application

(Alliance News) - Plexus Holdings PLC on Monday announced it secured an order for its wellhead equipment and sealing technology for a specialised project application.

Read more
6 Mar 2023 09:56

Plexus shares surge after securing £5m order

(Sharecast News) - Engineering services business Plexus has secured a £5.0m has secured an order for its proprietary POS-GRIP HG wellhead equipment and sealing technology for a specialised project application.

Read more
1 Mar 2023 15:21

TRADING UPDATES: Accrol deal with Unilever; Harland & Wolff optimistic

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Wednesday and not separately reported by Alliance News:

Read more
1 Mar 2023 14:06

Plexus sublets Burnside House, offloads ground lease

(Sharecast News) - Oil and gas engineering service provider Plexus announced on Wednesday that it has completed a sub-lease of its Burnside House property in Aberdeen to a third party, for 15 years.

Read more
23 Dec 2022 15:40

TRADING UPDATES: Webis wins racetrack deal; Plexus confident

(Alliance News) - The following is a round-up of updates by London-listed companies, issued on Friday and not separately reported by Alliance News:

Read more
16 Dec 2022 16:39

UK shareholder meetings calendar - next 7 days

Monday 19 December 
Abingdon Health PLCAGM
Brand Architekts Group PLCAGM
China Nonferrous Gold LtdAGM
DeepMatter Group PLCGM re ordinary shares cancellation
Mila Resources PLCAGM
Purplebricks Group PLCGM re chairman replaced by Harry Hill
Renalytix PLCAGM
RTW Venture Fund LtdEGM
Star Phoenix Group LtdGM re resolution to approve change of auditor
Technology Minerals PLCAGM
Visum Technologies PLCAGM
Tuesday 20 December 
AVI Global Trust PLCAGM
dotdigital Group PLCAGM
eEnergy Group PLCAGM
Nanoco Group PLCAGM
Pharma C Investments PLCAGM
SourceBio International PLCGM re proposed cancellation and re-registration as a private Ltd
Wednesday 21 December 
7digital Group PLCAGM
BATM Advanced Communnications LtdAGM
dotdigital Group PLCAGM
Northamber PLCAGM
Parkmead Group PLCAGM
Windar Photonics PLCAGM
Thursday 22 December 
Beeks Financial Cloud Group PLCAGM
Beximco Pharmaceuticals LtdAGM
Corcel PLCAGM
Gulf Investment Fund PLCAGM
SolGold PLCAGM
Friday 23 December 
Plexus Holdings PLCAGM
Wildcat Petroleum PLCAGM
  
Copyright 2022 Alliance News Ltd. All Rights Reserved.

Read more
25 Nov 2022 10:12

Plexus full-year loss widens on higher costs, revenue up

(Alliance News) - Plexus Holdings PLC on Friday reported a widened full-year loss but a rise in revenue on more operational project work.

Read more
20 Oct 2022 13:43

IN BRIEF: Plexus raises GBP1.6 million from loan notes; shares surge

Plexus Holdings PLC - West Sussex-based engineering services provider - Raises GBP1.6 million through the issue of 1.6 million convertible loan notes. Receives GBP1.0 million from OFM Investment Ltd, GBP500,000 from Chief Executive Ben van Bilderbeek, and GBP50,000 from Non-Executive Director Jeff Thrall. OFM is a company connected to Bilderbeek. Says the proceeds will be used for "working capital purposes" and to fund the company's activities as it seeks to capitalise on its "increasing pipeline of opportunities", notably its re-entry into the exploration wellhead rental from Jack-up rigs market where Plexus is in a licencing partnership with Schlumberger. Adds that the loan notes are non-interesting bearing and have a two year long stop maturity date.

Read more

Login to your account

Don't have an account? Click here to register.

Quickpicks are a member only feature

Login to your account

Don't have an account? Click here to register.