UK's Pipehawk plummets on swinging to annual loss

Pipehawk

29/11/2022 16:16

** Shares of engineering firm Pipehawk Plc  PHWK.L  down as
much as 23.3% at 11.5p 
    ** Co posts FY loss before taxation of 1.6 mln pounds ($1.9
mln) vs a profit of 79,000 pounds a year ago  urn:newsml:reuters.com:*:nTUC2Y1RTD 
    ** Stock hits lowest level since Sept. 2021 
    ** Co says FY turnover fell 7.5% to 6.2 mln pounds, hit by
higher costs 
    ** Adds that FY 2022-23 order enquiries have increased
"dramatically" 
    ** "In light of market conditions, all divisions of the
Group are currently performing well " - co 
    ** Including session losses, stock has fallen 34% YTD 
($1 = 0.8332 pounds)
 (Reporting by Amna Karimi in Bengaluru)
 ((Amna.Karimi@thomsonreuters.com; +91 8083261226;))