Trading update and notice of results

Further to the announcement of 30 March, the board is pleased to report an improvement in the Group’s underlying gross and operating margins in the second half of the year. Management expects revenues for the full year to have increased in line with expectations, rising over 10% on a year-on-year basis, underpinned by order intake in the 12 months to 31 March 2015 of £41.7 million.

The directors are also pleased to report net debt has fallen to £7.9 million, against a market expectation of £8.7 million, in spite of the Group’s on-going investment into its Luton-based Centre of Excellence.

Ewan Lloyd-Baker, CEO of Hayward Tyler, commented:
“The Group’s on-going focus on margin improvement and expansion of our production capabilities, coupled with the strengthening of our balance sheet, puts Hayward Tyler in an increasingly well-placed position to capture significant opportunities across our chosen markets and achieve the Board’s growth ambitions. The Board remains confident in the short to medium term prospects for the business and looks forward to updating shareholders on progress over the course of the new financial year.”