Clyde Process Solutions Plc (LON:CPSP) , the AIM quoted provider of pneumatic conveying and air filtration solutions, reported a trading performance in line with management expectations. The Group has seen its share price decline from a high in 2007 of c133p to the current level of 55p and the latest news failed to deliver any boost to the share price. The Group’s order book at 31st July 2010 stood at £24.2m, up 18% from the Group’s financial year end in February (£20.5m.) This growth has been generated from orders secured predominantly in the food, metals, chemicals and petrochemicals markets. Management commented that they had recruited a number of experienced business development resources in recent months for the operations in the US, UK, China and Brazil and believe their personal networks and expertise will add significantly to the Group’s already buoyant sales pipeline. The financial year has started well, with Clyde wining their first order in the Chinese cement market, a £1.4m order with Anglo American in Brazil and a £1m order in the US to launch a new petrochemicals strategy.  Economic conditions have generally improved in recent months and they have developed a healthy sales pipeline of prospects but management commented that the accurate prediction of new markets remains challenging. One broker’s 2011 forecasts assume revenue and EPS growth in the region of 10%.

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