Companies: MTG   

Mechanical and electrical contracting and steel galvanising group Metnor says that it is going to beat analyst expectations for the year to December with a pre-tax profit of at least £6.15m (excluding goodwill amortisation). House broker Brewin Dolphin was previously expecting £6.1m, as was research house Hardman. Chief executive Stephen Rankin puts this down to the performance of mechanical and electrical contracting subsidiary Norstead, which has been winning bigger and bigger contracts for telecoms companies and is now effectively a 'one stop shop' for mast, aerial and data installation. Norstead is projected to have sales of about £39m during the year, within a group sales figure of about £50m. In 2000 the company as a whole made £39.2m, and pre-tax profits of £4.4m. Rankin also says that Norstead has already received £20m of orders for the current year, up from £13m at the same time in 2001. Metnor's cash position is also strong, with a latest figure of £8m in the bank, but with a strong likelihood that this will be improved. House broker Brewin Dolphin was expecting £7.8m pre-tax profits for 2002, to deliver 35.3p of earnings. However, an upgrade could be on the cards,