Cautious response

Hampson Industries has released a buoyant interim management statement for the period since 30 September 2008, but urged caution in anticipation of difficult times ahead for certain sections of the business.

The company, which has its headquarters in the West Midlands, primarily provides engineering services to the aerospace industry.

Hampson said that its car manufacturing arm had weakened, although it reported strong results throughout its core business areas.

The group’s two recent acquisitions, Odyssey Industries and Global Tooling Systems, have traded strongly with both order and revenue growth reported in excess of pre-acquisition expectations.

Hampson's tooling business, Coast Composites, has been boosted by contract deals with manufacturers such as Airbus. This has led the division to increase its orders by 100 per cent over the nine months to the end of December compared to the same period a year ago.

The company said that based on current levels of enquiry, it is confident of securing further large tooling contracts in the coming months and is considering opportunities to expand its facilities.