Upgrade Now

Turbotec Products (TRBO)

 25.50p
   
  • Change Today:
      0.000p
  • 52 Week High: 38.50p
  • 52 Week Low: 23.00p
  • Currency: UK Pounds
  • Shares Issued: 12.81m
  • Volume: 0
  • Market Cap: £3.27m
  • RiskGrade: 48
  • Beta: 0.06

Trading Update

RNS Number : 0165D
Turbotec Products PLC
16 March 2011
 



 

 

Press Release

 16 March 2011

 

Turbotec Products Plc

("Turbotec" or "the Company")

 

Trading Update

 

Turbotec Products Plc (TRBO.L), the designer and manufacturer of high performance, high quality heat exchangers and Tru-Twist® heat transfer tubing, today announces the following trading update in advance of its year ending 31 March 2011.

 

The Company expects results for the year to 31 March 2011 to be slightly ahead of market expectations.  In the past five months, the Company has seen growth in unit sales volumes as well as increased selling prices arising from higher raw material costs, which have been passed on to customers in line with agreed contracts.  

 

These results have been achieved despite the costs relating to the Company's move to its new manufacturing facility in Hickory, North Carolina.  Looking forward, the Company expects increased pricing pressure due to signs of growing competition in the market.

 

The Company also announces that Robert Lowe has been confirmed as Non-Executive Chairman as of 24 February 2011. 

 

- Ends -

 

For further information please contact:

 

Turbotec Products Plc

 


Rob Lowe, Non-Executive Chairman

 

Tel:  +44 (0) 7917 148930

 

 


Sunil Raina, Managing Director

SRaina@turbotecproducts.com

Tel: +1 (860) 731 4200

 

Robert Lieberman, Finance Director

RLieberman@turbotecproducts.com

www.turbotecproducts.com

 

 

Evolution Securities Limited


Joanne Lake / Peter Steel

joanne.lake@evosecurities.com

Tel: +44 (0) 113 243 1619

 

 

Media enquiries:

Abchurch Communications


Sarah Hollins / Simone Elviss / Oliver Hibberd

oliver.hibberd@abchurch-group.com

Tel: +44 (0)20 7398 7714

www.abchurch-group.com

 

 


This information is provided by RNS
The company news service from the London Stock Exchange
 
END
 
 
TSTUVVBRAVAOAAR

Note 1: Prices and trades are provided by Digital Look Corporate Solutions and are delayed by at least 15 minutes.

Note 2: RiskGrade figures are provided by RiskMetrics.

 

Top of Page