Shares in Hayward Tyler (HAYT), the pumps and motors manufacturer we tipped seven weeks ago (Buy, 28p, 11 July 2013), have rocketed 56 per cent. However, confirmation that bullish trends have spilled over into the new financial year continues to back the investment case.
IC TIP:
Buy
at
43.7p
New orders in the three months to 30 June were up 42 per cent to £13.9m, and Hayward has won its first order for canned motor pumps from China’s chemical industry. Nuclear and power generation aftermarket work has kept growing, too, and the company is winning further orders in the North Sea following clarification on UK tax benefits in the last Budget.
