IN BRIEF: Strip Tinning's subsidiary turns to 2021 loss as costs rise
21st Jun 2022 12:36
Strip Tinning Holdings PLC - Birmingham-based electrical connectors for automotive sector - Says its wholly owned subsidiary Strip Tinning Ltd turns to loss in 2021 as costs rise due to inflation and supply chain disruption. Pretax loss stands at GBP1.1 million versus a profit of GBP349,000 in 2020. Cost of sales increase to GBP7.9 million from GBP5.0 million. Administrative costs widen to GBP4.2 million from GBP3.2 million. The revenue increase to GBP11.2 million from GBP8.6 million is not enough to stay profitable in 2021. Read More