Companies: HMY   

Fluid handling systems specialist Hamworthy has hoisted interim pre-tax profits 50 per cent to £3.7 million and says orders are strong.

Poole-based Hamworthy, which makes deep-well pumps for liquefied natural gas carriers, desalination equipment and much besides, increased turnover 31.5 per cent to £81.4 million in the six months to September. The AIM-quoted company, which paid £5.2 million to acquire desalination specialist Serck Como, lifted earnings 24.7 per cent to 9.6p a share and is raising the interim dividend from 1.8p to 2.3p a share.

With the order book up £54 million to £260.7 million since March, chairman Gordon Page says the company is investing to meet demand and looking for new market segments. At 424p, down 2p today and valuing the company at £183 million, the shares have risen strongly since Growth Company Investor's recommendation at 233p in May last year.

Partial profit-taking looks prudent, though there should be more growth to come.