Wow, encouragement from the oil and gas arena-another strong recovery story!

The designer and manufacturer of speciality engineering solutions for high-pressure systems serving large global markets has issued what amounts to an encouraging full year trading update for the financial year ending 3 October 2015. With the share price having fallen dramatically over the last year the valuation has clearly been factoring in a scenario that is not as bad as many anticipated. With plenty of free cash set to be generated over the next few years this business offers plenty of recovery potential.