PipeHawk turnover shows 'considerable improvement' in H2

Electronic systems development company PipeHawk said on Wednesday that unaudited turnover had shown a "considerable improvement" in the second half of its trading year.

PipeHawk said second-half turnover was approximately £4.1m, up from the unaudited turnover of £2.6m recorded in the six months ended 31 December 2020 as demand returned to levels encountered before the Covid-19 pandemic at its QM Systems and Thomson Engineering Design subsidiaries.

Order intake at both QM Systems and Thomson Engineering Design, as well as at its Adien subsidiary, was said to be "very healthy".

"The sales pipeline is strong to the extent that we are currently in negotiations with potential landlords for two of our businesses, QM Systems and Thomson Engineering Design, to relocate them to premises with manufacturing capability in excess of three times the current facilities," said PipeHawk.

The AIM-listed firm expects to publish earnings for the full-year ended 30 June in early November.

As of 1005 BST, PipeHawk shares had surged 26.07% to 8.51p.