29th Jan 2014 10:36
LONDON (Alliance News) - Havelock Europa PLC said Wednesday that it expects its trading for the year ended December 31 to be in line with forecasts, as it made progress with its strategy to widen its customer base.
The retail and education interiors company said that it has completed projects with a UK supermarket for the first time as part of its strategy. It has seen an increase in tender activity in the UK and overseas, and said that it should see benefits from this additional benefit during 2014.
The company noted that revenue from its education sector would be likely to fall in 2014 as order intake remained subdued. However, it remained confident as it secured orders for student accommodation and engaged in discussions with contractor customers over potential orders, which it said will produce benefits from, in 2015.
Havelock also made progress on its strategy to reduce debt, with the sale of surplus property in November and control of working capital resulting in a net debt below GBP500,000 at the end of the year.
Shares in the company were trading up 5.0% at 18.25 pence Wednesday morning.
By Hana Stewart-Smith; [email protected]; @HanaSSAllNews
Copyright © 2014 Alliance News Limited. All Rights Reserved.
Related Shares:
Havelock Europa