UPDATE 1-Brammer sees growing at rate ahead of market

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Fri Jul 9, 2010 2:59am EDT

* Says Q2 substantially ahead of Q1

* H1 sales up 8.1 pct on constant currency

* Continues to keep gross margins at prior yr levels (Adds details)

July 9 (Reuters) - Industrial services group Brammer Plc (BRAM.L) said it saw an improving sequential trend throughout the first half and expected to continue growing at a rate substantially ahead of the market.

The supplier of mechanical parts and related services said second-quarter results were substantially ahead of the first quarter.

In the second quarter, group sales per working day on a constant currency basis rose 14 percent to 1.9 million pounds ($2.90 million) per working day. Group sales per working day stood at 1.8 million pounds in the first quarter.

First-half sales on a constant currency basis rose 8.1 percent, Brammer said in a statement.

The company said it continued to maintain gross profit margins at levels similar to last year.

It expects net debt at June end to remain unchanged from December-end levels of about 40 million pounds.

Shares of the company closed at 140 pence on Thursday on the London Stock Exchange. ($1=.6598 Pound) (Reporting by Shivani Singh in Bangalore; Editing by Roshni Menon)

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