Full year results were well trailed in the Group’s trading update in November and are in-line with expectations. December 2020 saw the Group raise £7.1m (net) to strengthen the balance sheet and to provide the resources to capitalise on the building opportunity for hydrogen storage solutions and to accelerate growth in Integrity Management services. The Group has entered FY2021 with a strong and growing order book for defence, nuclear and hydrogen customers that underpins management’s confidence in the outlook, despite still challenging conditions in the oil & gas market. Trading in the first quarter is noted to be inline with expectation and five hydrogen refuelling station contracts worth £0.5m were secured in December alone in this rapidly developing sector. There is a strong pipeline of hydrogen refuelling opportunities, supported by ongoing development of products and services, and the Group’s long-standing presence and reputation in gas storage and safety.
