Hayward Tyler is great value

When you’re sitting on huge gains, the temptation to take profits can be overwhelming. Not so with Hayward Tyler. Up 164 per cent since our buy tip 10 months ago, we believe the pumps and motors manufacturer has plenty left in the tank. EPS growth of at least 37 per cent this year is already confirmed, the order book is bulging and a period of further strong growth looks assured. The re-rating has much further to run.

Momentum built during a powerful first half has continued through to the year-end. Results for the year to March 2014, due to be announced in early July, “will be at least in line with current market expectations”, Hayward said earlier this month. Core markets remain “buoyant”, it added, and new orders are up 8 per cent at £46m.