Pumps and motor manufacturer Hayward Tyler is in great shape. Balance sheet ratios have been restored to health, new banking facilities agreed, and the shareholder base is now an impressive list of blue-chip names, following the exit of a major Indian shareholder earlier this year.
That puts the group in a strong position to capitalise on buoyant demand in its end markets of power generation, nuclear and oil and gas. Order intake of £46m was up 16 per cent on a pro-rata basis. The power market represented just over half of that, and prospects here are well underpinned by a bulging pipeline of new power plants in China and India.