AGL 40.35 Decreased By ▼ -1.15 (-2.77%)
AIRLINK 129.75 Increased By ▲ 1.75 (1.37%)
BOP 6.50 Increased By ▲ 0.24 (3.83%)
CNERGY 4.03 Decreased By ▼ -0.10 (-2.42%)
DCL 8.45 Increased By ▲ 0.01 (0.12%)
DFML 41.41 Increased By ▲ 0.72 (1.77%)
DGKC 86.78 Decreased By ▼ -1.12 (-1.27%)
FCCL 33.40 Decreased By ▼ -0.70 (-2.05%)
FFBL 65.85 Decreased By ▼ -0.48 (-0.72%)
FFL 10.44 Decreased By ▼ -0.12 (-1.14%)
HUBC 110.22 Increased By ▲ 1.52 (1.4%)
HUMNL 15.14 Increased By ▲ 0.68 (4.7%)
KEL 4.80 Increased By ▲ 0.15 (3.23%)
KOSM 7.80 Increased By ▲ 0.47 (6.41%)
MLCF 41.94 Decreased By ▼ -0.78 (-1.83%)
NBP 60.90 Increased By ▲ 0.06 (0.1%)
OGDC 182.50 Increased By ▲ 3.53 (1.97%)
PAEL 25.25 Decreased By ▼ -0.45 (-1.75%)
PIBTL 6.26 Increased By ▲ 0.20 (3.3%)
PPL 147.50 Increased By ▲ 1.35 (0.92%)
PRL 24.52 Decreased By ▼ -0.39 (-1.57%)
PTC 16.10 Decreased By ▼ -0.04 (-0.25%)
SEARL 70.50 Increased By ▲ 0.30 (0.43%)
TELE 7.30 Increased By ▲ 0.08 (1.11%)
TOMCL 36.17 Decreased By ▼ -0.03 (-0.08%)
TPLP 7.85 Increased By ▲ 0.01 (0.13%)
TREET 15.38 Decreased By ▼ -0.21 (-1.35%)
TRG 51.66 Increased By ▲ 1.30 (2.58%)
UNITY 27.28 Increased By ▲ 0.38 (1.41%)
WTL 1.24 No Change ▼ 0.00 (0%)
BR100 9,831 Increased By 36.8 (0.38%)
BR30 29,959 Increased By 311.6 (1.05%)
KSE100 92,486 Increased By 464.5 (0.5%)
KSE30 28,743 Increased By 78 (0.27%)

Chloride Group Plc, the British power protection company, is looking to expand further overseas and may be able to announce an acquisition at around the time of its interim results in early November. The group, which updated shareholders with a first-half trading statement on October 01, said it was "actively looking" at a number of bolt-on deals, especially in the Far East.
"We've got plenty of headroom on the balance sheet and unused committed facilities (of) around 80 million pounds ($144 million)," Finance Director Neil Warner told Reuters in a telephone interview. "I'm hopeful we will be able to announce something later this year," he added. Group debt currently stands at around 22 million pounds.
Chloride, which looks after the power systems for Wembley Stadium, as well as the new Terminal 5 building at London's Heathrow Airport, said its order book at the end of September was at record levels and there had been no sign of any fall-off in demand from the financial services sector.
Major UK-based customers include Barclays Plc and HSBC Holdings Plc, who use Chloride's power technology products to help protect their retail and Internet banking operations. "At the moment, we've not seeing any slowdown in demand for our products, but that's not to say we are immune from any downturn," said Warner.
Meanwhile, group sales and operating profits for the first six months are "significantly ahead" of the same period last year, with strong growth in service revenues, especially from the oil and gas industry. DB Power, the Indian power protection company where Chloride recently increased its stake to 49 percent, is also performing well and will be consolidated into the half-year accounts. For the full year to end-March 2009, analysts currently look for pretax profits of about 44.1 million pounds.

Copyright Reuters, 2008

Comments

Comments are closed.