PipeHawk PLC on Thursday said it made a positive start to the current financial year that runs to the end of June.

The Cinderford, England-based engineering solution provider said it anticipates revenue for the six months to December 31, excluding QM Systems Ltd, to be sharply ahead of £1.1 million it had posted a year prior.

‘As previously announced on 28 November 2024, trading conditions in the UK and globally are very difficult for small & medium-sized enterprises. This means that, while management remains optimistic that the performance of our businesses will continue to improve gradually over the coming months, this is taking longer than originally anticipated. However, the board believes that the group has positioned itself to take advantage of current market conditions and that it should therefore be less susceptible to the need for a resurgence of business confidence.’

PipeHawk shares closed 11% higher at 2.60 pence each on Friday in London.

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