Pump supplier Specialist Energy Group reported Wednesday that it ended last year with an order intake of $54.5 million (GBP 34.5 million) – an almost 10-percent increase over the end of 2011.
The UK-based firm, whose wholly-owned subsidiary Hayward Tyler supplies specialist pumps and motors to the oil and gas industry as well as the power generation sector, also reported a strong second-half performance thanks (in part) to steps taken during 2012 to improve operational efficiencies and expand its market penetration, it said.
Specialist Energy said that it had seen notable growth in international oil and gas markets during 2012, where it has seen orders valued at nearly $11 million (GBP 7 million) for its range of seawater life and firewater pumps.
Specialist Energy CEO Ewan Lloyd-Baker commented in a statement:
"Significant steps have been taken over the last twelve months to improve the operational efficiencies within our core manufacturing activity so that we can better leverage Hayward Tyler's growing international order book. As a consequence, we are now seeing a genuine momentum within Hayward Tyler which the board believes will be healthily reflected in our full year results."
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