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Pursuit of deals should back up confidence

• FROM: July 2006 |
• TAGS: general industrials, pursuit dynamics |
• COMMENTS: Add yours

• Pursuit of deals should back up confidence
• | Printer-friendly version

Pursuit Dynamics is confident that it will start winning more orders for its PDX steam technology.

So far food companies have been the main customers but the potential customer base is widening. Pursuit is trialing its technology with a major brewer for use with wort boiling. The technology is also being used for decontamination work and this is an area where there could be news on contracts in the near future. The company is on a firm footing because it raised £7.5m last December. Pursuit generated turnover of £494,000 at the interim stage. Pursuit is confident that revenues will increase sharply in the second half. They will have to if it is to achieve its broker’s forecast for this year and give people confidence that it can make profits of £4.5m next year. If it achieved that profit then the shares would be trading on less than 12 times 2006-07 earnings.

The shares have started to recover but they are still less than half their peak level.

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