Proactive Investors: Specialist Energy says cost savings and order growth boost performance

The company makes makes boiler circulation pumps used by the power generation industry. Specialist Energy Group (LON:SEGR) said profit margins are improving as part of its continuous improvement programme as it reported a 15 per cent increase in order intake.

In an upbeat update to investors the engineer, which makes boiler circulation pumps used by the power generation industry, said it had also achieved annualised cost savings of £1 million.

Its partnership with MBE Cologne, meanwhile, is showing supply chain benefits, the group reported. Hayward Tyler, the company’s main operating subsidiary, reported growth across all sectors as total order intake rose to £31.2 million from £27.2 million 12 months earlier. Chief executive Ewan Lloyd-Baker said: “The company has worked hard to cement the advantages of a strengthened balance sheet and highly complementary strategic partner.