- Third profit upgrade this year
- Analysts raise 2022 and 2023 pre-tax profit estimates by 38 per cent
- Demand from data centres and oil and gas sector driving demand
Crestchic (LOAD: 242p), a fast-growing business that makes, sells and rents load banks and transformers for the commissioning, testing and maintenance of independent, off-grid power sources, has issued its third earnings upgrade this year, and it's a considerable one.
The group has been awarded extensions to ongoing rental projects in various locations across the world, has secured its largest ever hire contract, which will benefit both the second half of 2022 and the first quarter of 2023, and has enjoyed a record level of sales orders, the majority of which will be fulfilled in 2023. The record contract win, in addition to the strength of ongoing trading, prompted the board to significantly increase its profit guidance.