BURTON-based industrial services and rental company Northbridge said today it was “well placed” to continue developing the group following last year’s acquisition of an Australian firm.
In a trading update ahead of its six-monthly results in September, the firm said it was encouraged by the progress being made by the group.
The integration of Perth-based Tasman Oil Tools was now completed, it said, and the Australian management team had been strengthened by the appointment of further senior personnel.
Tasman was expected to make a significant contribution to overall performance, the statement added.
“Orders for the sale of manufactured units at Crestchic remain buoyant and well ahead of the same period in 2010, with the workforce having been expanded to cope with the increased demand,” the company said.
Chief executive Eric Hook said: “With a low level of gearing, increasing demand for our specialist equipment and an increased size of our rental fleet, we are well placed to continue the group’s development.
“We have the opportunity with our strong cash flow to take advantage of opportunities in the industry, wherever they arise, and we expect to achieve the current market expectations for the year.”
For the latest AIM and FTSE news, plus the West Midlands risers and fallers, go to our Shares & Markets section.Click here
Click here to sign up to receive our new South West business news...
