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Metnor - NO RECOMMENDATION

Companies: MTG   
12/09/2001

Engineering support services business Metnor continues to report strong growth, interim profits before tax leaping 37% to £2.7m as sales nearly doubled to £32.7m. Much of the growth has come from the company's Norstead division, which offers contract management facilities and building services. Now boasting clients in the telecom, retail, pharmaceutical and commercial sectors Metnor has recently opened a new Norstead office in Glasgow - expected to 'contribute significantly in 2002', while a further site in London is scheduled to open sometime in November. The company's galvanising business has also started picking up contracts again, after a slow period last year, while Great Yarmouth, which supplies parts and equipment to the offshore oil industry is described as having performed 'exceptionally'. An improved interim dividend of 1.65p (1.5p) will be paid on 19 October.

Market cap: £34.1m
PE Forecast: n/a
Share price: 223p

AIM£15.21m 98.50p 0.00p
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