Gas and liquid flow control valve manufacturer Rotork said yesterday it was seeing signs of improvement in oil and gas markets.
Bath-based Rotork highlighted “signs of increased activity levels” during the third quarter of 2016, notably in the Middle East, Asia and North America.
The company said order intake for the period was up 22.2% on a year ago, and revenue was 28.9% higher.
As at October 30, the order book was worth £214million – more than 15% ahead of the same point last year.
Third quarter orders in the firm’s controls division were up by 19.7% year-on-year, helped by the pick-up in energy.
The group’s fluid systems division enjoyed a near-5% increase in orders, thanks to project activity showing signs of improvement in midstream and downstream sectors.
But the company said it was still seeing activity taking longer to convert into orders, with the size of projects also smaller.