com:20090930:Rnsd9042Z
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RNS Number : 9042Z  
  
Hamworthy plc  
  
30 September 2009  
  
 
  Press Release   30September 2009  
  
  
Hamworthy plc  
  
("Hamworthy" or the "Group")  
  
Pre-Close Trading Update  
  
Hamworthy (AIM:HMY), a world leader in the design and manufacture of innovative 
marine, onshore and offshore fluid handling systems, is pleased to give the 
following trading update as it enters its close period.  
  
First half performance is anticipated to be relatively strong due to the timing 
and mix of deliveries in the period. The Group continues to achieve a high 
profit-to-cash conversion and maintains a strong balance sheet.  The Board 
anticipates that performance for the current full year will meet expectations.  
  
  
The Group's order book remains robust with limited impact of cancellations and 
at 31 August 2009 it stood at £207 million (31 August 2008: £303 million). The 
challenging market conditions continued with order intake for original equipment 
at the same low levels experienced in the second half of the previous financial 
year.  These market conditions are unlikely to change in the near term. Demand 
for the Group's Aftersales products and services continue to be firm.  
  
Hamworthy continues to make good progress on its strategy.  In particular the 
Group maintains its focus on margin improvement and is continuing to take the 
necessary action to reduce its cost base where appropriate.  
  
The long-term growth prospects of the Group's chosen sectors remain strong, 
being driven by increasing environmental regulation and continued development in 
the energy production and transportation sectors.   
  
The announcement today of the acquisition of Krystallon Limited, the leading 
supplier of marine exhaust sulphur emissions reduction technology, gives 
Hamworthy access to a new market driven by environmental legislation.  
  
The agreement to acquire the Technology and Products division of Aibel AS 
announced on the 8 July is progressing well and completion is imminent.   The 
Group will continue to target similar bolt-on businesses to extend its 
technology base and market position.  
  
The Group will be announcing its Interim Results on Tuesday, 24 November 2009. 
An analyst briefing given by Gordon Page (Non-Executive Chairman), Joe Oatley 
(Chief Executive) and Paul Crompton (Finance Director), will be held at 9.30 
a.m. at Hawkpoint Partners Limited, 41 Lothbury, London, EC2R 7AE.  
  
- Ends -  
  
For further information:  
  
 
  Hamworthy plc                                                
  Joe Oatley, Chief Executive       Tel: +44 (0) 1202 662 600  
  Paul Crompton, Finance Director   www.hamworthy.com          
  
  
 
  Hawkpoint Partners Limited                              
  Christopher Kemball          Tel: +44 (0) 20 7665 4500  
  Vinay Ghai                   www.hawkpoint.com          
  
  
Media enquiries:  
  
 
  Abchurch                                                                          
  Henry Harrison-Topham / George Parker / Simone Alves   Tel: +44 (0) 20 7398 7702  
  simone.alves@abchurch-group.com                        www.abchurch-group.com     
  
  
Notes to editors  
  
Hamworthy is a leader in the design and manufacture of innovative gas handling, 
pumping and water management systems for the marine and oil & gas industries. 
The business benefits from markets that have long-term growth prospects.  It 
produces technically advanced solutions, often in response to environmental 
needs and legislation.  
  
With its headquarters in the UK, operations in 13 countries and representation 
in over 50, the Group has established a leading global position in its chosen 
markets. Further information on Hamworthy plc can be found at www.hamworthy.com  
  
 
This information is provided by RNS  
  
The company news service from the London Stock Exchange  
  
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