News

October 21, 2009

Plexus Holdings Post Robust Full Year Results And, Despite Falling Rig Counts, Remains Confident About The Future

Robust results from specialist oil services group Plexus Holdings mean the AIM firm is on track to pay a maiden final dividend, with a payout to shareholders for the year ended June 30 2009 of £0.3 million. The company reported a 14 per cent increase in turnover to £15.1 million for the year to June 30 with EBITDA up 13 per cent at £4.3 million. Analysts said the results were broadly in line with expectations.

The strong result was due to strength over the second half of the year, driven by growth in the rental of the company’s high pressure/high temperature wellheads.  Indeed, the year saw a  35 per cent increase in High Pressure/High Temperature sales as the company continued to secure work from major oil companies. Its client list now includes Shell, BP Conoco Phillips, and Talisman Energy, which have been attracted by the safety, cost and efficiency benefits of the company’s proprietary...