Specialist Energy Group (LON:SEGR) revealed this morning it expects to make a substantial improvement in operational performance in the second half of the year.
The group, which designs, makes and services specialist pumps and motors for the energy sector, said this would happen as it offloads loss making contracts in the manufacturing arm.
Chief executive Ewan Lloyd-Baker said: “We expect to see a substantial improvement in the operational performance of the group in the second half driven in part by the elimination of loss making contracts in the manufacturing division, savings from the restructuring of the Luton operations, a significantly strengthened balance sheet and a stronger Q4 2012 performance by the
aftermarket business which has been held back by financial constraints prior to the new financing.
We hold the following certifications: ISO 9001, ISO 14001, ASME N, ASME NPT, ASME NS, and HSB PED H1. We are also NQA-1 compliant.
