Shares in the specialist engineer Hayward Tyler Group PLC (LON:HAYT) rose 9% after it unveiled new orders worth £3.7mln.
They include £1mln-worth of after-market business, a £1.5mln deal to deliver eight electric submersible motors and two contracts worth £1.2mln to supply three glandless boiler circulating pumps.
WATCH: New orders "encouraging", says Hayward Tyler CEO ...
Chief Executive Ewan Lloyd-Baker hailed the company's ability to convert its strong pipeline into “order intake".
"Importantly, these awards are for a range of our products, servicing the varied end-markets across key geographies for the group,” he added.
The chief executive expects the company’s revenues for the year to be in the range of £60mln-£65mln, in line with previous guidance. It will update the City on April 20.
On March 31, Hayward Tyler confirmed it had received a bid approach from Avingtrans (LON:AVG).
The stock advanced 4.35p to 51.25p, valuing the business at £30mln
(adds share price)