Commendable results, cash generation superb and lots of potential in biogas

The leading designer and manufacturer of speciality engineering solutions for high pressure gas systems came out with an encouraging set of full year results. Underlying operating profit was up 10% to £5.4m and cash generation was excellent, with the group finishing the period with net cash of £7.9m. The year end order book remained substantial at £16m. The group’s new Chesterfield Biogas division will be a big beneficiary of the Government’s Renewable Heat Incentive which is due to be announced in January 2010.