26th May 2016 10:12
LONDON (Alliance News) - Industrial and commercial equipment distributor HC Slingsby PLC on Thursday said revenue grew in 2015 but its loss widened amid tough market conditions.
Slingsby said its pretax loss for the year to the end of December was GBP632,000, compared to GBP453,000 a year earlier, following a mixed sales performance over the course of the year. Trading had improved in the autumn, but fell away again towards the end of the year, the company said.
Revenue grew to GBP17.1 million from GBP12.6 million, driven primarily by revenue from ESE Direct, an industrial and commercial equipment rival to Slingsby which it acquired in March 2015.
Slingsby sales were down 3.3% in the first quarter of 2016, though the company said signs that the deterioration was easing have emerged.
Slingsby shares were untraded on Thursday, having last traded at 155.00 pence.
By Sam Unsted; [email protected]; @SamUAtAlliance
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