Hinkley Point C is ‘potentially very significant’ for Wakefield group

THE Government’s decision to go ahead with Hinkley Point C is “potentially very significant” for specialist manufacturer Redhall Group.

The Wakefield-headquartered group has submitted a number of tenders for the project and it expects the successful bidders for some of the work will be informed in mid-2017.

It said: “Government support for Hinkley Point C is also an indication that its nuclear energy strategy may lead to the development of further nuclear power stations providing work to manufacturing businesses over a significant future period.”

The group said it is continuing to make progress, with further contract wins helping it to meet its forecasts.

It had endured a difficult few years which led to a major restructuring of the business. It expects both the financial year which ended in September and the current financial year to deliver profits in line with market expectations.

Its manufacturing businesses – Booth Industries and Jordan Manufacturing – have an order book of £21m, boosting by significant levels of work in the rail infrastructure, defence and nuclear decommissioning markets.

Redhall Group added: “The board continues to be encouraged by the level of opportunities and the growth in order book in the Group’s chosen markets within high integrity manufacturing.”

At the close on Friday, its shares were trading 40% higher than the level before the EU referendum.