Northbridge Industrial Services plc share price, company news, analysis and interviews

Northbridge Industrial Services Plc (LON:NBI), the power reliability company, today issued the following trading update, ahead of its Annual General Meeting which will be held today at 12.00 noon at the offices of Buchanan Communications, 107 Cheapside, London EC2V 6DN. A resolution will be proposed at the AGM to change the name of the company to Crestchic Plc, to reflect the Group’s strategic focus on its key brand in the growing global power reliability market. AGM Trading Update As previously noted at the time of the announcement of the results for the year ended 31 December 2021, trading during the first quarter was

Northbridge Industrial Services plc (LON:NBI), the power reliability company, has announced the practical completion and handover of its new loadbank production facility in Burton on Trent, which will increase annualised production capacity by 60%. As outlined at the Capital Markets Event in March 2022, the new1,200m2 manufacturing site will complement existing facilities which support equipment sales and rentals across the Group’s major international hubs in the UK, Continental Europe, the USA, the Middle East and APAC. It will enable Northbridge to meet the current strong levels of customer demand, as well as future proofing operational capacity as the Company builds on its c.10%

Northbridge Industrial Services plc (LON:NBI), the power reliability company, today announced its audited results for the year ended 31 December 2021, which are in line with increased market expectations. Highlights: ·  Group revenue from continuing operations up 20% to £29.5 million (2020: £24.6 million) o  Hire revenue up 34% as major projects recover from COVID-19 delays o  Equipment sales up 7%, despite capacity constraints, with data centres remaining very strong o  Change in mix towards hire benefitted gross margin from continuing operations – up to 47.2% from 44.9% ·  Pre-exceptional profit before tax up sharply to £3.3 million (2020 £0.4 million) ·  Strong cashflow reduced net debt1 to £2.2